American weekly chain-store sales up 2.6 percent on year last week

Weekly chain-store sales in the United States climbed 2.6 percent on the year last week (for the week ending February 2), the International Council of Shopping Centers (ICSC) and Goldman Sachs reported.

Meanwhile, comparable-store sales – a critical indicator for the retail trade showing sales at stores open for at least a year – climbed 2.4 percent on a week-to-week basis. That compares with the preceding three weeks where sales shrank.

The ICSC vice president of research and chief economist, Michael Niemira, said: "The end of the fiscal month and fiscal year posted an up-tick as business was stronger for specialty stores, wholesale clubs, dollar stores and apparel stores, in particular, and steady on a year-over-year basis for most other segments.

"The solid performance at month’s end continues to support that the overall retail industry is improving and showing signs of overall recovery.”