Chain Store Sales Fall for 3rd Straight Week
{{#rendered}} {{/rendered}}
Chain store sales (search) fell for the third consecutive week, as on-line shopping and gift cards continue to cut into weekly sales figures, a report said on Tuesday.
Sales in December to-date were down 0.7 percent compared with November. Sales rose by 2.1 percent on a year-over-year basis for the week ended Dec. 18, said Redbook Research (search), an independent company.
"Some sources said markdowns had become pervasive and were affecting margins. In addition, on-line shopping remained at a strong pace and gift cards were on the rise shifting sales to the period after the holiday season which could affect sales data," the report said.
{{#rendered}} {{/rendered}}
The Redbook data are compiled from a sample of same-store sales at general merchandise retailers representing about 9,000 stores. Same-store sales (search) measure revenue at stores open at least one year.