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Weekly sales edge up 0.7%


New York City A report issued Tuesday by The International Council of Shopping Centers and Goldman Sachs said that chain-store sales for the week ended Feb. 27 rose 0.7% from the year-earlier period.

On a week-over-week basis, sales fell 0.8%.

"The month finished off slightly as a result of another storm in the Northeast which pared the consumers' ability to shop," said Michael Niemira, ICSC's chief economist. "However, the impacts from nature and the light volume of February sales make it difficult to read too much into this month's performance."

Niemira forecast February sales will still be positive and may be up about 2%. Retailers report their February numbers on Thursday.

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