Chain store sales declined 3.1% in the week ended December 1, as consumers took a break after Black Friday, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday.
Year-over-year sales grew 3.2%.
"Sales typically enter a lull period after Thanksgiving and this year appears to be no different," said Michael Niemira, ICSC vice president of research and chief economist. "The good news is that on a two-week basis, the year-over-year pace is ahead of the November pace and December sales are likely to rebound from the sluggish November pace as the number of holiday shopping days will begin to wind down over the course of the next few weeks," Niemira added.
