28 October 2003, 15:50  US chain stores sales affected by fires and weather

NEW YORK, Oct 28 - U.S. chain store sales slipped in the latest week as October's spending pause was deepened in part by warmer weather and wildfires in California, a report said on Tuesday. Sales fell 0.9 in the week ended Oct. 25, the Bank of Tokyo-Mitsubishi and UBS said in a joint report, compared with flat growth in the preceding week. Compared with the previous year, sales for the week were up 5.8 percent. Unseasonably warm weather in some parts of the country may be turning off shoppers from buying fall apparel, and high wind-fueled fires that tore through California have been cited by some retailers as warding off customers. BTM/UBS further slashed its October comparable store sales growth estimate to 2.5 to 3 percent on a year-over-year basis compared with the previous forecast of 3 percent. The BTM/UBS Weekly Chain Store Sales Snapshot is compiled from a group of major discount, department and chain stores across the country that report their weekly results. The index measures sales growth with the year 1977 equaling 100.||

© 1999-2024 Forex EuroClub
All rights reserved