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RAPAPORT... Preliminary U.S. chain-store sales rose by 4.9 percent year on year in November, according to the International Council of Shopping Centers (ICSC). The increase was driven by solid retail sales performance on a comparable-store basis in the first two weeks of the month. “Sales showed steady industry-wide performance for the month, with apparel showing a strong uptick compared with October,” said Jesse Tron, the spokesman for ICSC. “It’s an encouraging reading for the Christmas season and means we should continue to expect significant improvement over the 2013 season.”
ICSC anticipates comparable-store sales to increase between 4 percent and 4.5 percent in December.
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