Retailers’ weekly sales rise 1.3% from year ago: survey
By Daniel at 23 September, 2008, 8:10 am
Retailers’ weekly sales rise 1.3% from year ago: survey NEW YORK (MarketWatch) –
Chain-store sales for the week ended Sept. 20 rose 1.3% from the year-earlier
period, according to a survey released Tuesday by the International Council of
Shopping Centers. On a week-over-week basis, sales dropped 1%, their third
straight weekly drop. “During this past week consumers spent cautiously as the
stock market dropped to its lowest levels in years on turmoil within the
financial industry,” said Michael Niemira, ICSC chief economist.” Niemira lowered
his September sales estimate for a second straight week to a 1% to 1.5% gain from
his week-earlier projection of a 1.5% to 2% gain.
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