Research >> Economics
ICSC Chain Store Sales increased 0.3% in Jul 23 Wk
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The positive retail beat continued for the fourth consecutive week as retail sales rose slightly as a result warm weather and seasonal clearance sales. Overall for the week ending July 23, weekly retail sales rose by 0.3 percent, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Index. On a year-over-year basis the pace of retail sales remained positive but slowed to 4.2 percent from the prior week.
“Over the past week unseasonably warm weather helped to keep the positive retail sales momentum going,” said Michael Niemira, ICSC vice president of research and chief economist. “As retailers close out the fiscal month of July, overall sales results were positive for the entire month as summer clearance and warm weather drove sales,” Niemira added.
ICSC Research expects July sales will likely increase between 4.5 to 5.5 percent –more in line with its year-to-date trend–and by 3.5 to 4.5 percent, excluding the impact of fuel.
Posted: July 26, 2011 Tuesday 07:45 AM