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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (5833)1/22/2004 3:16:57 PM
From: russwinter  Read Replies (1) of 110194
 
At least those gasoline sales should hold up, and make up for the lousy chain store sales:

Few Sales Bites Into Chain Stores
Wed Jan 21, 7:48 AM ET

NEW YORK (Reuters) - Retailers lacked cut-rate sales items to feed consumer demand, as U.S. chain store sales dipped for the third straight week, a report said on Wednesday.

Sales fell 0.7 percent in the week ended Jan. 10, slipping further from a 0.4 percent fall in the previous week, the International Council of Shopping Centers and UBS said in its joint report. Sales for the week grew 3.9 percent compared with the previous year, slowing from the preceding week's 4.9 percent pace.

"The lack of heavy clearance sales this January - relative to last year - is the primary reason for the slower year-over-year sales pace, which is not bad since it reflects good inventory management during the holiday season and a pickup in consumer demand," said Michael Niemira, ICSC's chief economist and director of research.

ICSC continues to expect January's comparable store sales to grow about 3.5 percent on a year-over-year basis.

The ICSC-UBS Weekly Chain Store Sales Snapshot is compiled from a group of major discount, department and chain stores across the country that report their weekly results. The index measures sales growth with the year 1977 equaling 100.
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