New York, NY, February 14, 2006--Weekly chain stores sales last week slipped 0.4 percent, an industry group said Tuesday.
The International Council of Shopping Centers and UBS Securities LLC also said that for the week ending Feb. 11, the year-over-year pace continued to soften to 3.3 percent.
"This past week retail chain store sales were affected by two key factors, weather and the opening of the Olympics, as consumers directed their attention to things other than shopping," said Michael P. Niemira, ICSC's chief economist and director of research.
"For February, ICSC expects industry same-store sales to rise by approximately 3 percent, on a year-over-year basis," Niemira added.
