Highlights
Chain-store sales came crashing back in the January 7 week according to ICSC-Goldman's same-store sales tally which plunged 5.4 percent for the largest weekly decline in data going back to 1989. The year-on-year rate, at plus 2.8 percent, is down very sharply from 5.3 percent in the prior week. The report cites warm weather, and its negative effect on demand for seasonal goods, as the cause for the sharp fall. This week's drop follows four prior weeks of sharp gains for this index, which in December, trended higher than Redbook for the first time since mid year. Redbook is up at 8:55 a.m. ET.