By Tess Stynes
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index fell 5.4% in the week ended Saturday from the previous week on a seasonally adjusted, comparable-store basis.
"A bout of frigid weather in the Midwest and Northeast curbed shopping in stores--with the exception of grocery stores," said Michael Niemira, ICSC vice president of research and chief economist. Sales were also stronger for online retailers. Promotions also were more widespread, he added.
ICSC Research now expects to report December same-store sales rose 4% to 4.5%, compared with its earlier view for an increase by between 3% and 4%. ICSC Research plans to release the final December figures Thursday.
On a year-to-year basis, the weekly reading increased 1.7%.
Week Ended Index Yr/Yr Change Weekly Change
04-Jan-14 543.4 1.7% -5.4%
28-Dec-13 574.5 3.0% 1.0%
21-Dec-13 569.0 2.7% 1.4%
14-Dec-13 561.1 2.0% 4.8%
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