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Retail sales edge higher
Cooler weather spurs shoppers in the first half of October, chain store data indicate.
October 23, 2002: 10:49 AM EDT

NEW YORK (CNN/Money) - U.S. chain store sales rose during the first half of October, thanks to cooler weather that put consumers in the mood to buy winter clothing, two industry reports showed Tuesday.

Sales rose 1.5 percent in the two weeks ended Oct. 19 compared with the same period in September, Instinet Research said in its weekly Redbook report.

"Cooler weather and perhaps some catching up by consumers who had delayed fall shopping earlier in the season strengthened the sales growth," the report said.

Stores in the suburbs of Baltimore and Washington have been hurt by fears of a sniper who has killed several people in the area in recent weeks, Redbook said.

Separately, the Bank of Tokyo-Mitsubishi and UBS Warburg reported in their weekly report that sales at stores open at least a year, a key gauge known as same-store sales, increased 2.9 percent for the week ended Oct. 19, compared with the same period a year ago. Last week's sales were also 0.6 percent higher than in the previous week.

However, BTM projected total October sales will show a sluggish 1.5-2 percent increase from a year ago, due mainly to a slow start at the beginning of the month.

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-- Reuters contributed to this report




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.