NEW YORK – Chain store sales fell 1.4% in the week ended Jan. 21, as weather conditions damped consumer activity, according to International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index.
Year-over-year, retail sales were relatively steady, showing a 2.8% increase.
"From the Northwest to the Northeast strong winter storms affected consumer demand this past week as it limited consumers' ability to shop," said Michael Niemira, ICSC vice president of research and chief economist. "In addition to the mixed weather patterns, January is traditionally a low-seasonal sales month for retailers so that pattern tends to produce more volatility from week to week than in other months. The good news is that the year-over-year results are holding relatively steady and remain positive," added Niemira.