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RAPAPORT... U.S. chain-store sales rose 4.1 percent year on year in October, according to the International Council of Shopping Centers (ICSC). The increase was a preliminary total as it will be revised when Gap reports its monthly sales after the markets close. ICSC also noted that the figure did not include JCPenney, which reported a 0.9 percent increase in same-store sales for October compared with September. “Sales trends seemingly are back on track,” said Michael P. Niemira, ICSC's vice president of research and chief economist. “The sales impact versus the Hurricane Sandy affected October of 2012 was actually mixed. While the discretionary spending category comparison was boosted by a weaker 2012, staples (e.g. grocery, home supplies, gasoline, etc.) were actually hurt from a comparative standpoint to last year. Overall, the monthly gain is an encouraging for retailers as we head into the important holiday shopping period. It would appear that the consumer has come back, just at the right time.” ICSC research anticipates November's comparable-store sales to increase by 3.5 percent to 4.5 percent, given easy comparisions (sales fell 0.1 percent in November 2012) and the extra shopping day added by retailers that now open for Thanksgiving Day.
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