Weekly Sales Look Positive
New York City, Retail chain store sales got off to a positive start by increasing 1.3% for the week ending Nov. 6, according to the International Council of Shopping Centers (ICSC)-UBS Weekly Chain Store Sales Index, which measures same-store sales. On a year-over-year basis, the sales pace also improved to 3%.
"Sales snapped back over the last week following three consecutive weekly declines,” said Michael Niemira, ICSC's chief economist and director of research. “This week’s increase largely offset much of the prior weeks' decline and got the month and the holiday season off to a better than expected start."
For November, ICSC expects retail chain store sales to increase to about 3% to 4% on a year-over-year basis.