US chain store sales dipped a little during the last week of February but capped a month during which sales grew 1.4% over January. Chain store sales have been quite resilient so far this year amid rising unemployment and poor consumer confidence.
The International Council of Shopping Centers and Goldman Sachs on Tuesday released the following seasonally adjusted weekly data on U.S. chain store retail sales.
WEEK ENDING INDEX 1977=100 YOY CHANGE WEEKLY
Feb 28 483.0 -0.8% -0.6%
Feb 21 485.9 -0.8 0.6
Feb 14 482.8 -0.9 0.9
Feb 7 478.6 -1.8 0.0
Jan 31 478.5 -2.5 1.6ICSC said it continues to expect February same-store sales to fall 1 percent to 2 percent from the same month last year. The ICSC weekly U.S. retail chain store sales index is a joint publication between ICSC and Goldman Sachs Group Inc. It measures nominal same-store sales, excluding restaurant and vehicle demand, and represents about 75 retail chain stores.