The polar vortex froze consumers and pulled chain-store sales down a sharp 1.0 percent in the January 11 week, based on ICSC-Goldman's same-store sales index. The year-on-year of plus 1.3 percent is down 4 tenths in the week for the lowest reading since mid-October. ICSC-Goldman sees January as a whole coming in a bit weaker than December. The December retail sales report from the government is coming up later this morning at 8:30 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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