Retail Sales Mixed in February
External factors kept retail sales mixed in February.
The steady rise in gasoline prices and unusually warm weather in many parts of the United States combined to drag retail sales down 1 percent in the last week of the month, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain-Store Sales Index. The end-of-the month decline was typical of the uncertainty retailers have faced since the beginning of the year, saidMichael Niemira, ICSC vice president of research and chief economist.
"A blast of warm temperatures rolled in again, and gasoline prices continued to climb, which collectively helped to soften sales this past week,” Niemira said. “The results this past week continue a relatively choppy sales pattern that the industry has been experiencing since January.”
Among the month’s winners was Everett, Wash.–based action-sports retailer Zumiez Inc., which reported a 14.2 percent increase in comparable-store sales in February.
