Retailers Snap Their Winning Streak

(Updated with stock prices.)

NEW YORK (TheStreet) -- Retailers' six-week streak of same-store sales gains has ended.

For the first week of the month ended Nov. 7, chain store sales slipped 0.1%, according to the International Council of Shopping Centers and Goldman Sachs.

The retail sector took a spill in morning trading, as The S&P Retail Index edges down 0.2% to 402.18. Some of the retailers in the red include Rite Aid(RAD Quote), which is off 2.2% to $1.35, RadioShack(RSH Quote), which is down 2.7% to $19.72, OfficeMax(OMX Quote), which is falling 3.1% to $12.03 and Zale(ZLC Quote), which is tumbling 8.4% to $5.05.

On a year-over-year basis, however, sales still jumped 2.9%, aided by easier comparisons.

While there has been mixed data regarding just when consumers will start their holiday shopping, ICSC Chief Economist Michael P. Niemira says consumers aren't in the holiday spirit just yet.

ICSC's weekly holiday sales tracking survey found that 46% of consumers have not begun purchasing presents and are waiting until the day after Thanksgiving to start.

Regardless, November same-store sales are expected to grow between 5% and 8%, according to the ICSC, compared with a 7.7% plunge last year.

-- Reported by Jeanine Poggi in New York

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