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Chain store sales rise 2.8%


New York City A report issued Tuesday by the International Council of Shopping Centers and Goldman Sachs said U.S. weekly chain store sales for the week ended Oct. 17 rose 2.8% over the year-ago period.

The positive reading was due in part to easier comparisons, given the sales drops registered during fourth-quarter 2008.

“Though the year-over-year sales comparison was easy, consumers shopped late in the week helping to push up the weekly performance,” said Michael P. Niemira, ICSC chief economist. “Weather was a contributing factor for the sales improvement as fall merchandise got a lift this past week."

ICSC Research expects October comp-store sales to be flat to slightly positive on a year-to-year basis.

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