Chain store sales grew 0.1% in the week ended Feb. 23, while year-over-year sales increased 2.9%, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday.

"Consumers saw the snowiest third week of the fiscal-month of February in more than 22 years, according to Weather Trends International for the South Central states and the second snowiest in the North Central states, which clearly tempered retail sales over the past week, said Michael Niemira, ICSC vice president of research and chief economist. "Moreover, as the retail industry heads into the final fiscal week of February, spending is likely to be held back by the uncertainty surrounding the potential negative economic impacts from the federal government sequestration."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.