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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (17861)	12/7/2004 9:22:38 AM
From: russwinter	Respond to of 116555

Reuters Chain Store Sales Slip in Latest Week Tuesday December 7, 7:50 am ET NEW YORK (Reuters) - Chain store retail sales continue to fall during the week following the Thanksgiving holiday, a retail report said on Tuesday. Sales fell 1.7 percent in the week ended December 4, compared with a 1.5 percent decline in the previous week, the International Council of Shopping Centers and UBS said in a joint report. "So far, this holiday season has been following the same shopping pattern as we experienced last year, a moderate start with softness the week following," said Michael Niemira, ICSC's chief economist and director of research in the report. Compared with the same week a year ago, sales growth rose 3.3 percent after a 2.4 percent fall in the preceding week. "Given this pattern, this may very well mean that the consumer will step up their holiday shopping and spending over the upcoming weeks to finish the 2004 holiday season on the strong side.," Niemira said. 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.