U.S. Chain-Store Sales +5%

U.S. chain-stores sales rose 5.3 percent year on year for the week following Christmas Day, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. For the period ending on December 31, weekly retail sales rose by 1.2 percent from the previous week.

Michael Niemira, ICSC’s vice president of research and chief economist, explained that an increase in gift card redemptions and a federal holiday on December 26 helped to lift retail sales.

For December, ICSC expects same-store sales to reflect an increase of 4 percent to 4.5 percent year on year.

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