RAPAPORT... U.S. chain-store sales rose 2.7 percent year on year for the week that ended on December 21, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Week-to-week comparable-store sales improved 1.4 percent.
“Consumers reported in the ICSC-GS consumer tracking survey that the average holiday-gift completion rate rose to 83.5 percent though Sunday — close to last year’s 84 percent at a comparable time, which is good news for retailers and the industry,” said Michael Niemira, ICSC's vice president of research and chief economist. “With only a day remaining to wrap up their Christmas shopping, it is no surprise that 31 percent of consumers plan to shop on Christmas Eve.”
ICSC Research anticipates that December's chain-store sales will reflect an increase of 3 percent to 4 percent. The weekly chain-store sales snapshot is produced by ICSC and Goldman Sachs to measure U.S. nominal same-store, or comparable-store, sales while excluding restaurant and vehicle demand. The weekly sales index is presented on an adjusted basis to account for normal seasonal and other data anomalies.