NEW YORK – Chain store sales dropped 3.2% in the week ended Jan. 8, as consumers abandoned stores after the holidays, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
Processing Content
Year-over-year, however, sales rose 3.5%.
"Although sales fell sharply during this past week, the week-over-week decline probably was exaggerated by the seasonal adjustment given a low volume week," said Michael Niemira, ICSC vice president of research and chief economist. "More importantly for January, retailers should see some improvements over the next few weeks as consumers redeem their gift cards throughout the month," Niemira added.
