The ICSC-Goldman Sachs (ICSC-GS) chain store sales index for the week ending Dec. 22 rose by 0.7 percent from the prior week, which continued to reflect strength from last-minute shopping. Year-over-year, the gain for the week was 3.2 percent.
The comparison of this week to a year earlier was unfavorable as the week ended on Christmas Eve last year.
“In the final week of December in-store sales growth will likely be boosted by the calendar shift, which is why we are holding to our expectations for the month,” said ICSC Chief Economist Michael Niemira.
ICSC expects December industry sales will increase 4 percent to 4.5 percent, excluding drug stores.
