Research >> Economics
ICSC Chain Store Sales edged up 0.8% in Apr 20 Wk
|
U.S. chain-store sales rose 1.9 percent year on year for the week that ended on April 20, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. The week-to-week change in comparable-store sales reflected a slight increase of 0.8 percent.
“Although aggregate sales popped up by 0.8 percent for the latest week, ending April 20, sales were mixed with improved performance at grocery stores and discounters, but weaker business for electronics, office, apparel, department, drug and other specialty stores,” said Michael P. Niemira, ICSC's vice president of research and chief economist. He added that abnormally wet weather conditions in some areas of the U.S., particularly in the upper Midwest, also curbed consumer spending.
ICSC anticipates same-store sales will increase by between 2 percent and 3 percent in April. 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: April 23, 2013 Tuesday 07:45 AM