Research >> Economics
ICSC Chain Store Sales slipped 2.0% in May 11 Wk
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U.S. chain-store sales rose 1.2 percent year on year for the week that ended on May 11, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. The rate of growth was at its lowest level in many weeks. Additionally, week-to-week comparable-store sales fell 2 percent, marking the second consecutive weekly decline.
"Abnormally cold weather in the mid-sections of the nation continued to pare seasonal merchandise demand, while the Northwest and Northeast were warmer than last year helping seasonal demand modestly," said Michael Niemira, ICSC's vice president of research and chief economist. "The roller-coaster pattern of sales growth from week to week reflects a confluence of factors — economic and environmental — that sway the number positively for a given period and sometimes those factors sway the number negatively."
ICSC Research anticipates chain-store sales will increase between 2 percent and 3 percent in May. The weekly chain-store sales snapshot is produced by ICSC and Goldman Sachs to measure U.S. nominal same-store, or comparable-store, sales while excluding restaurant and vehicle demand. The weekly sales index is presented on an adjusted basis to account for normal seasonal and other data anomalies.
Posted: May 14, 2013 Tuesday 07:45 AM