ICSC-Goldman reports mixed results in the February 16 week with the week-to-week same-store measure jumping 2.7 percent while the year-on-year rate slowed slightly to a very soft plus 1.8 percent. The results mirror what the report describes as uneven conditions. It notes that Valentine's Day was a positive in the week but was offset by rising gasoline prices, this year's increase in payroll taxes, and the slower pace of this year's tax refunds. Following the results, ICSC-Goldman is now paring back its full-month growth estimate for February by 50 to 100 basis points to 2.5 to 3.0 percent. Redbook will post its results 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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