Chain Stores Sales Fall for Third Straight Week

U.S. chain store sales fell in the first three weeks of December compared with a month earlier as online shopping and gift cards continue to cut into sales figures, a report said.

Sales in December to-date were down 0.7% from November. Sales rose 2.1% on a year-over-year basis for the week ended Dec. 18, said Redbook Research, an independent company.

“Some sources said markdowns had become pervasive and were affecting margins. In addition, online shopping remained at a strong pace and gift cards were on the rise, shifting sales to the period after the holiday season, which could affect sales data,” the report said.

The Redbook data are compiled from a sample of same-store sales at general merchandise retailers representing about 9,000 stores. Same-store sales measure revenue at stores open at least one year.