Chain Store Sales Rise, Fundamentals Solid

New York, NY, Feb. 8, 2011 -- U.S. chain-store sales last week rose 2.5% compared with one year ago, according to the International Council of Shopping Centers and Goldman Sachs. 

Comparable store sales for the week that ended Feb. 5 increased by 2.2% from the previous week, ICSC said.

“Weather continued to play havoc with retailers this past week,” Michael Niemira, ICSC vice president of research and chief economist. 

"Despite the challenges, retailers were able to post a solid sales increase for the first time in four weeks.”

For the month of February, ICSC Research believes that consumer fundamentals are solid and anticipates an overall comparable industry sales gain of between 2.5 to 3%.