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February chain-store sales drop 0.1 percent

March 06, 2009

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New York--U.S. chain-store sales for February decreased 0.1 percent compared with the same period last year, according to the latest study from the International Council of Shopping Centers (ICSC).

According to ICSC Chief Economist Michael P. Niemira, there was a slightly broader retail sales improvement in February, led by Wal-Marts's better-than-expected performance.

"The last four months show an increasingly less negative performance for the industry, which is an encouraging sign and one that ultimately will form a foundation for stronger sales performance later in the year," Niemira said in a media release issued on Friday.

For March, the ICSC expects same-store sales to be down 1 percent to flat on a year-over-year basis.
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