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Log In / Register | Apr 23, 2014

Frigid Temperatures Send Weekly Sales Sliding

Chicago's Lake Street the first week of January 2014
Chicago on January 2nd, 2014. Photo by Gregory Wass

NEW YORK – Frigid temperatures sent weekly sales sliding last week. 

As a result, weekly sales tumbled by 5.4% for the week ending January 4, 2014, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index. On a year-over-year basis the pace of sales also slowed, to 1.7%

"The final week of the fiscal month was soft as yearend 'statistical noise' was accentuated by adverse weather conditions in the Midwest and East, which hindered shopping over the past week," said Michael Niemira, ICSC vice president of research and chief economist. "Comparable-store sales for the month—based on the small sample of monthly reporting firms--are likely to increase by 4.0% to 4.5% when retailers report their monthly sales figures on Thursday, January 9, 2014. This is somewhat above our earlier expectation, as Walgreen's already reported a very strong December performance," added Niemira.

Week Ending Index 1977=100 Year/Year Change Weekly Change

04-Jan-14

543.4 1.7% -5.4%
28-Dec-13 574.5 3.0% 1.0%
21-Dec-13 569.0 2.7% 1.4%
14-Dec-13 561.1 2.0% 4.8%
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