RAPAPORT...  Weekly chain store sales in the U.S. were basically flat from one year ago for the week that ended September 19, 2009, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs.  The groups reported an increase of 0.6 percent for comparable store sales during the week. However, ICSC noted the largest drop for week-to-week comparisons since January: a 2 percent decline.

"This mixed salespicture was affected by a host of crosscurrents," according to ICSC. Foot traffic slowed and customer traffic was sharply lower at department stores. Gasoline prices also rose for the sixth consecutive week, although the average price is 31 percent lower than September 2008.

ICSC Research determined that consumers "may have enjoyed more time outdoors for the week, rather than shopping, as mild weather was present."  Despite an increase for gasoline prices, overall deflation continues to build discretionary purchasing power.

Comparable store sales slipped 2 percent for the month of August, which was considerably stronger than ICSC's earlier expectations. ICSC estimated that the Labor Day shift will benefit the industry by about 25 basis points for the month of September, but it still expects same-store sales to be 2 percent lower than one year ago.

LH