RetailSails

The International Council of Shopping Centers (ICSC) reported that chain store sales rose 1.8% from the prior week and increased 3.5% over the prior-year period during the week ending Feb 4th. On a year‐over‐year basis, mild weather in the past week compared with a Groundhog Day snowstorm in 2011 helped the year over comparisons in some regions. But absolutely and relative to last year, the ICSC‐GS consumer tracking survey found that consumer shopping was strong. This was especially true at wholesale clubs, but there were impressive gains also recorded at dollar stores, apparel stores, department stores, discounters and even furniture stores. “This past week consumers warmed up to spring-related merchandise as warm weather helped to drive weekly sales,” said Michael Niemira, ICSC vice president of research and chief economist. “In addition, consumers stocked up on consumables prior to Super Bowl Sunday which helped drive sales across many store categories,” added Niemira. According to Weather Trends International (WTI), the national average temperature over the past week ending Saturday was an incredibly large 12.9°F warmer than last year and a hefty 9.0°F warmer than its long‐term average. WTI further noted that last week was the warmest week for a comparable period in more than 20 years, which hurt the demand for some goods such as, “space heaters, fire logs and auto batteries,” but may have gotten consumer thinking about spring fashion. The US Energy Information Administration said gas prices jumped by four cents compared with the prior week’s price to $3.482 on Feb 4 and was 11.2% higher than a year ago, and is now 25 cents higher since Christmas. Consumers continue to face higher fuel expenses, pinching their discretionary purchasing power. For all of February, ICSC Research forecast a 3% to 3.5%% gain compared with a 4.2% rise in February 2011.