Chain store retail sales up in latest week

U.S. chain store retail sales rose in the latest week, as Super Bowl purchases and a New York State tax holiday helped drive sales, a retail report said Tuesday.

Sales rose 2.2 percent in the week ended February 5, compared with a 1.9 percent decline the previous week, the International Council of Shopping Centers and UBS said in a joint report.

Compared with the same week a year ago, sales rebounded to a 3.0 percent increase after a 2.5 percent rise the preceding week.

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For February, ICSC expects same-store sales to increase by 2.5 to 3.0 percent, on a year-over-year basis. For the month of February, the industry faces a difficult comparison with last year, when sales grew by 6.7 percent year-over-year.

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“This past week we saw sales recover, especially at discounters, as consumers geared up for the Super Bowl with purchases of team apparel and food items,” said Michael Niemira, ICSC’s chief economist and director of research.

The ICSC-UBS Weekly Chain Store Sales Snapshot is compiled from a group of major discount, department and chain stores across the country that report their weekly results.