Research >> Economics
ICSC Chain Store Sales jumped by 2.0% in Jun 21 Wk
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The arrival of summer gave way to a rise in weekly sales for the second consecutive week, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index (ICSC-GS). Overall, according to the index, weekly chain store sales jumped by a solid 2.0% for the week ending June 21, 2014. On a year-over-year basis sales also rose sharply and posted a 4.1% gain - the strongest year-over-year pace in more than a year. The previous high occurred for the week ending June 1, 2013, which was up 4.3% from its comparable week of the prior year.
"Business was up sharply relative to the same week of the prior year for most segments according to the ICSC-GS consumer tracking survey. This was especially seen in department stores, discounters, dollar stores and wholesale clubs as they all posted hefty year-over-year gains," said Michael Niemira, ICSC vice president of research and chief economist. "June tends to be second highest sales volume month of the year, accounting about 10% of annual sales, so the recent strength is encouraging," Niemira added.
Looking ahead, ICSC Research forecasts that June monthly comp-store sales will increase by 3.5% on a year-over-year basis
Posted: June 24, 2014 Tuesday 07:45 AM