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Retail sales tip lower in week     (Business News)
01/26/2011 10:14 A (EST)
WASHINGTON, Jan. 26 (UPI) -- Cold weather and road-blocking snowstorms slowed traffic at U.S. retail stores in the week ending Jan. 22, a trade group in Washington said.

The International Council of Shopping Centers said chain store receipts dropped 1.2 percent compared to the previous week, although sales rose 2.8 percent compared to the same week of 2010.

Weather Trends International said temperatures averaged 7.8 degrees Fahrenheit colder than the same week of the previous year, but snowfall was the major issue. For the week, snowfall was 57 percent more than the week's long-term average, giving the third week of the month the highest snowfall tally in six years.

Higher gasoline prices are also cutting into shoppers' ability to spend at other retail outlets. The average price of gasoline for the week, at $3.11 per gallon, was 15 percent higher than the same week of 2010, the trade group noted.