U.S. chain-store sales rose by 2.7 percent year on year for the week that ended on November 5, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Retail sales rose 1 percent from the previous week.
”A blast of cooler weather helped propel seasonal sales on a weekly basis, but, the year-over-year sales momentum slowed a tad,” said Michael Niemira, ICSC’s vice president of research and chief economist. ”Consumers are gearing up for the holiday promotions and lots will be riding on the traditional start to the holiday season on the day after Thanksgiving. However, prior to Black Friday, there will be plenty of promotions, which may entice consumers in the coming weeks as well,” added Niemira.
ICSC Research is anticipating that November chain-store sales will increase 3.5 percent to 4 percent year on year.