Year-over-year retail sales rise 0.7% in latest week

Chicago ShopperTrak’s National Retail Sales Estimate reported that year-over-year retail sales increased 0.7% for the week ending Nov. 14. Meanwhile, sales rose a solid 7.5% versus the previous week ending Nov. 7.

As expected, retail sales increased last week as Veteran’s Day provided an extra shopping day and as the holiday shopping season rapidly approaches. ShopperTrak said it expects retail sales and traffic will remain positive this week as consumers responds to early holiday sales and promotions prior to Black Friday.