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Chain-store sales up 1.1 percent

January 22, 2009

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New York--Retailers enjoyed a solid sales increase for the week ended Jan. 17, as U.S. chain-store sales were up 1.1 percent, according to the latest study from the International Council of Shopping Centers (ICSC).

Sales on a year-over-year basis continue to struggle, however, declining by 1.8 percent.

"Sales volatility continued on a week-over-week basis, while year-over-year trends for January remained sluggish," ICSC Chief Economist Michael P. Niemira said in a media release. "Being a low-volume month with little incentive to spend will continue to make January a tough month for retailers."
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