US: Although US retail chain store sales notched their worst performance on record in 2009, they ended the year on a welcome high note and expect to rebound this year, according to the International Council of Shopping Centers Incorporated (ISCI).

On Thursday ISCI said that December same-store sales rose 2.8%, based on its tally of 32 retailers. That was the strongest monthly performance of 2009, and the best showing since April of 2008, the group reported.

ICSC's chief economist Michael Niemira, described it as a "nice finish to the holiday season."

"I think the (sales) improvement really echoes the improvement in the underlying economy.We've seen less deterioration in the labor market on the employment front."

Niemira said 2009 chain store sales fell 2%, the weakest performance on record adding that 2010 could start off slowly, with January same-store sales forecast to be flat to up 1%. But Niemira saud he also expected rebounding in 2010, with sales for the calendar year rising 3 % to 3.5 % the strongest showing since sales rose 4.8% in 2006.

"As the year progresses, I think you'll see the consumer stepping up their spending," he added.

Macy's to close five stores
Macy's announced the closing of five Macy's stores as part of the ongoing annual process to selectively prune underperforming locations while also opening new ones to fill gaps in local markets.

"We are committed to maintaining a healthy portfolio of stores, which requires us to make the difficult decision to close some stores that no longer meet our performance requirements, as well as to open new stores where we see opportunities," Terry J. Lundgren, chairman, president and CEO said in a press release.