Weekly chain store sales fall 2.5% from previous week

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January’s sales volatility continued last week as shoppers retreated from the malls and spent frugally.

For the week ended Jan. 23, sales at major chain stores declined 2.5% from the week before, the International Council of Shopping Centers said today. On a year-over-year basis, sales increased 1.9%.

‘January is a difficult month to read given its traditional low-volume sales,’ said Michael Niemira, chief economist for the shopping center group. ‘As a consequence, small shifts due to weather or inventory or other factors can [be] greatly amplified in weekly sales pace.’

Despite the week’s weakness, Niemira said he still expected January retail sales to increase 1% compared with the same month last year.

-- Andrea Chang