Chain Store Sales Up 1% Last Week

New York, October 16, 2007—Chain store sales rose 1%, in the week ended Oct. 13, compared with the prior week, according to the International Council of Shopping Centers and UBS Securities. Sales were also up 2.5% verses the same week a year ago.

Sales were boosted by increased discounts and cooler weather, which helped drive shoppers into stores. "Retailers are battling 'out of synch' seasonal weather patterns, which have been playing havoc with their customer traffic and sales patterns," said Michael Niemira, chief economist for the International Council of Shopping Centers, or ICSC.

For October, ICSC expects retail sales to increase by about 2.5%, slightly improved from the sluggish 1.7% gain in September.