Frigid weather pulled chain-store sales steeply lower in the January 18 week, down 1.9 percent on ICSC-Goldman's same-store sales index for a year-on-year rate of only plus 0.9 percent which is the lowest reading of the whole recovery. The report warns that cold weather in the ongoing week is likely to depress readings in this report for next week. Redbook will be posted later this morning at 8:55 a.m. ET on the Econoday calendar.
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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