NEW YORK – Retail sales at chain stores increased 1.3% in the week and 3.4% year-over-year, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday.
The weekly gain was the best since mid-July, while the year-over-year gain was the strongest since last September.
"Retailers were aided by a blast of cold temperatures over the last week -- especially in the East and South -- which lifted the demand for fall and winter merchandise," said Michael Niemira, ICSC director of research and chief economist. "The past week got the month off to a strong start. For November, ICSC Research anticipates that year-over-year comparable-store sales growth will increase by 3.0 to 4.0 percent, industry-wide, as more favorable weather and the start of the 2010 holiday shopping season takes hold," Niemira added.
