Week-over-week sales down 6.5%

Chicago ShopperTrak’s National Retail Sales Estimate reported that year-over-year retail sales slipped 4.5% for the week ending Jan. 30, while sales fell 6.5% versus the previous week ending January 23.

As expected, both yearly and weekly sales levels dropped last week as holiday shopping momentum continues to fade and following the Martin Luther King Jr., holiday which provided an extra day to shop during the week ending Jan. 23.

ShopperTrak reported year-over-year retail sales increased early in January but posted declines during the last two weeks of the month.

“The rather steady declines we tracked last week aren’t alarming to retailers as annually we see weakness during the period following the holidays and just prior to Valentine’s Day,” said Bill Martin, co-founder of ShopperTrak. “Sales will increase later this week and into next as Valentine’s spending begins and President’s Day approaches.”