New York, NY, October 18, 2005--Chain store retail sales rose 0.4 percent in the week ended October 15, compared with 0.2 percent increase the previous week, the International Council of Shopping Centers and UBS said in a joint report.
It was the fourth consecutive week of increase as consumer demand for fall apparel items finally got a lift from colder weather.
Compared with the same week a year ago, sales grew by 3.3 percent--the strongest pace since September 10 when it rose 3.5 percent, after a 2.7 percent rise the preceding week.
"Although consumers are still very worried about the sharply higher energy expenditures impacting their budgets, they also seem to be spending a bit more over the last four weeks, which is an encouraging sign," said Michael P. Niemira, ICSC's chief economist and director of research.
"The latest week's sales pickup was led by Staples and, hopefully, with the projections of a bout of cold weather later this week, consumer demand for fall apparel items will finally get a lift," Niemira added.
For October, same-store sales are expected to increase by about 3.0 percent on year-over-year basis.
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.
