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RAPAPORT... U.S. chain-store sales rose 1.3 percent year on year for the week the ended on January 11, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. However, week-to-week comparable-store sales slipped 1 percent, marking a second consecutive decline. “The final fiscal month of the retail year began on a soft note as weather continued to dampen the consumers’ ability and willingness to shop,” said Michael Niemira, ICSC's vice president of research and chief economist. “The good news is that gasoline prices were relatively steady -- providing little impact on the consumers’ discretionary-spending potential.” ICSC Research anticipates that January's chain-store sales will increase by between 3 percent and 3.5 percent. Comparable-store sales rose 3.4 percent in December, according to ICSC. The weekly chain-store sales snapshot is produced by ICSC and Goldman Sachs to measure nominal U.S. 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.
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