New York, NY, September 7--Chain store retail sales were flat in the latest week as the effects of Hurricane Katrina began to be felt, a report said on Wednesday.
Sales were flat in the week to Sept. 3 after dipping 0.3 percent in the prior week, the International Council of Shopping Centers and UBS said in a joint report.
Compared with the same week a year ago, sales were up 3.8 percent, after a 3.9 percent increase in the prior week.
"The results for this past week reflect the fallout of Hurricane Katrina as national sales were held back by about one percentage point as stores were closed in the path of the hurricane," said Michael Niemira, ICSC's chief economist and director of research.
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.
