NEW YORK – U.S. chain store sales (search) rose in the last week of October as cooler temperatures and Halloween shopping lifted sales of seasonal items, a report said on Tuesday.
Sales in October to date were up 1.3 percent compared with the same period in September, while sales at major retailers rose by 4.5 percent on a year-over-year basis for the week ended Oct. 29, said Redbook Research (search), an independent company.
"Results were above plan in the fourth week of October. Our model as a whole remained ahead of plan due primarily to continued strength at a few key companies. Stores were reporting improved sales for the week supported by cooler weather and Halloween shopping," Redbook said.
"The Southeast was still up after suffering from a series of hurricanes despite both water and power failure forcing some Florida retailers to close following Hurricane Wilma (search)," Redbook added.
Redbook's preliminary target for November is 4.1 percent year-over-year same-store growth, generating a month-to-month gain of 0.4 percent November versus October.
The Redbook data are compiled from a sample of same-store sales at general merchandise retailers representing about 9,000 stores. Same-store sales measure revenue at stores open at least one year.
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