Washington, DC, NY, December 7--Retail chain store sales declined by 1.7 percent for the week ending December 4, according to the International Council of Shopping Centers (ICSC)-UBS Weekly Chain Store Sales Index released Tuesday.
On a year-over-year basis, however, the sales pace gained by 3.3 percent. ICSC chief economist Michael Niemira said this holiday season is following the same pattern seen last year -- a moderate start with softness the week following.
Niemira said this could mean the consumer will increase their holiday spending over the next few weeks to finish the season on the strong side. For December, ISCS expects sales to grow by 3.5 percent to 4.0 percent on a year-over-basis
