Cold temperatures through most of the nation did not slow last week's shopping, according to ICSC-Goldman whose same-store sales index surged 2.4 percent. The year-on-year rate rose six percentage points to plus 2.6 percent but is still trending lower on a four-week basis, at plus 2.8 percent vs 3.1 percent in the prior week. Redbook's year-on-year rate has been trending substantially lower than ICSC-Goldman, at plus 1.9 percent for the four-week average. Redbook's latest report will be posted later this morning at 8:55 a.m. ET.
This weekly measure of comparable store sales at major retail chains, published by the International Council of Shopping Centers, is related to the general merchandise portion of retail sales. It accounts for roughly 10 percent of total retail sales.
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