NEW YORK – Retail sales were up 1.7% from a year ago in the week ended October 16, but were down 0.7% from the prior week, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
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"National temperatures soared relative to last year and its historical record making it the warmest comparable week in 15 years, which unfortunately was not good news for retailers selling seasonal goods. As such demand dipped from the prior week and on a year-over-year basis," said Michael Niemira, ICSC director of research and chief economist. "For the fiscal month of October, ICSC Research anticipates that year-over-year comparable-store sales growth will increase about 2.5 percent, industry-wide."
