NEW YORK – Chain store sales gained 3.0% in the week ended Feb. 18, according to the ICSC-Goldman Sachs Chain Store Sales Snapshot released Wednesday.
On a year-over-year basis, retail sales were 3.2% better than last year.
"Valentine's Day gifts likely contributed to the better performance this past week as sales volatility continued, but, this time resulting in a strong positive sales performance for retailers," said Michael Niemira, ICSC vice president of research and chief economist. "Moreover, a bout of winter weather helped any remaining demand for winter clearance merchandise, as well as some pre-seasonal whiffs of spring weather gave consumers an additional reason to shop for some spring apparel too," added Niemira.
