United State weekly chain-store sales rose 2.7 percent year on year for the week that ended on 27-10, according to the International Council of Shopping Centers and Goldman Sachs. Week-to-week comparable-store sales experienced a slight increase, up 0.5 percent, in part due to consumers along the eastern seaboard buying supplies in preparation for a major storm.
"Abnormally warm weather lingered last week, which curbed seasonal merchandise demand, while residents in the East prepped to faced Hurricane Sandy, which seemingly helped lift grocery store business—according the International Council of Shopping Centers -Goldman Sachs weekly consumer tracking survey," said Michael Niemira, International Council of Shopping Centers 's vice president of research and chief economist. "Overall, though the week’s sales were decent, though there were pockets of softness among the seasonal categories,” Niemira added.
International Council of Shopping Centers Research anticipates that comparable-store sales will increase by between 3.5 percent and 4 percent in October, lower when drug stores are included. The weekly chain-store sales snapshot is produced by International Council of Shopping Centers and Goldman Sachs to measure United State nominal 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.
