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NEW YORK CITY-Retailers’ same-store sales last week increased 3.7% year-over-year, according to a weekly report by the International Council of Shopping Centers and investment bank UBS. The results, which were tallied for the week that ended on Oct. 9, were helped by early Columbus Day sales, the report says.

ICSC and UBS predict year-on-year same-store gains this month for a handful of retailers. Target’s will rise 6% and Federated Department Stores and J.C. Penney will climb 4%, it says. All three chains would beat their September performances if they meet those expectations.

Besides the Columbus Day sales, cooler-than-normal temperatures aided retailers in their results. That benefit pushed the ICSC-UBS Weekly U.S. Retail Chain Store Sales Index to its highest point since Sept. 11. Same-store sales rose 0.5% compared to the previous week.

Cooler weather should continue to help results improve during the month, the report says, though high gasoline prices could drag down same-store sales by as much as 0.5%. ICSC and UBS predict October’s same-store sales will increase somewhere between 3% and 4%.

September’s same-store sales were up 2.4% from the same period a year before, according to ICSC. Its monthly sales report blamed hurricanes Frances, Ivan and Jeanne, and a slow back-to-school season for the “soft” results. The results are a continuation of the weak year-over-year monthly sales results retailers have reported since June, the report said.

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