Weekly Rise in Sales Less Than Expected
U.S. retailers’ same-store sales rose less than expected last week as shoppers stayed home to listen to news of bombing and missile strikes in Afghanistan.
The 0.9% increase was less than the previous week’s 1.4% gain and the lowest since the week ended June 9, when sales rose 0.3%, according to an index compiled by Bank of Tokyo-Mitsubishi Ltd. and UBS Warburg.
Retailers reported weak customer traffic Oct. 7, when the U.S.-led military offensive started, the Bank of Tokyo said. Unseasonably warm weather in parts of the country hurt the sales of winter clothing, the bank said.
Michael Niemira, Bank of Tokyo economist, said he expects October sales will exceed September’s 1.1% rise because October numbers won’t include store closings that occurred after the Sept. 11 terrorist attacks and because of costume and candy sales for Halloween.
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