Weekly sales slip at major US store chains

WASHINGTON (AFP) - Sales slipped in major US retail chains last week as gasoline prices climbed, crimping some shoppers` spending, a survey showed.
Sales dropped 0.6 percent in the week ended October 23 after easing 0.2 percent the previous week, a survey by the International Council of Shopping Centers (ICSC) and UBS Warburg showed.
Compared with a year earlier, however, sales during the week were up 3.7 percent.
For October, the ICSC predicted sales would grow 3.0 percent to 4.0 percent compared with a year ago, after a 2.4 percent gain in September.
"High gasoline prices have certainly not disappeared and will likely drag down the underlying pace of sales in October by about an estimated 0.5 percentage points," said ICSC chief economist Michael Niemira.

10/26/2004 - 14:17 GMT - AFP