New York, October 26--The International Council of Shopping Centers-UBS Retail Chain Store Sales Index fell by 0.6% in the week ended Oct. 23 compared to the week before, on a seasonally adjusted, comparable-store basis, according to data released Tuesday.
This followed a decrease of 0.2% in the prior week.
"Though this past week we saw sales decline, customer traffic remained healthy - especially in the South - while cooler temperatures helped seasonal apparel demand at discounters and department stores," said Mike Niemira, chief economist at ICSC who compiles the index. "Despite the week-over-week decline, the overall sales pace remains strong. For the month of October, we continue to expect sales to grow by 3.0% to 4.0% on a year-over-year basis."
The index increased at a 3.7% rate on a year-over-year basis in the week ended Oct. 23 after a 3.4% increase in the prior week.
