New York, NY, December 13, 2005--Chain store retail sales rose in the latest week, as consumers stepped up their shopping with just under two weeks left before the holidays arrive, a retail report said on Tuesday.
Sales rose 0.9 percent in the week ended Dec. 10, compared with a 3.1 percent fall the previous week, the International Council of Shopping Centers and UBS said in a joint report.
Compared with the same week a year ago, sales rose to 3.2 percent, after a 3.5 percent rise the preceding week.
"Although some retailers increased their store promotions this past week, most promotions seemed close to plan," said Michael P. Niemira, ICSC's chief economist and director of research.
"With only 13 percent of holiday shopping totally completed, the final push will come over the next few weeks. So far, sales for the month and the holiday season remain on track for an increase of 3.0 percent to 3.5 percent, on a year-over-year basis," Niemira added.
The ICSC-UBS Weekly Chain Store Sales Snapshot is compiled from a group of major discount, department and chain stores across the country that report their weekly results.
