Chain store sales decreased 0.7% in the week ended December 8, but were up 2.5% year-over-year, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday.

"Consumers fell behind on their holiday shopping this past week, according to the ICSC-Goldman Sachs holiday tracking survey," said Michael Niemira, ICSC vice president of research and chief economist. "With two weeks left to shop before Christmas Day, consumers are likely to step up the pace of their shopping appreciably as procrastination is less and less an option," Niemira added.

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