Chain-store sales in the United States climbed 2.8 percent on the year for the week that ended November 16, according to a weekly survey by the International Council of Shopping Centers (ICSC) and Goldman Sachs.
The survey also found that comparable-store sales, week-to-week, inched 0.1 percent higher.
“The consumer seemed to take advantage of the Veteran’s Day holiday and week more so than last year to shop and spend," said Michael Niemira, ICSC's vice president of research and chief economist. He added that the survey revealed "strong demand across most retail segments and very strong gains for department stores”.
ICSC Research is projecting an increase of 3.5-4.5 percent for chain-store sales for this month largely due to easy year-on-year comparisons.
