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ICSC Chain Store Sales down 0.3% In June 13 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index fell 0.6% in the week ended Saturday from its level a week before on a seasonally adjusted, comparable-store basis. On a year-on-year basis, retailers saw sales fall 1.5% in the latest week.
"Consumers scaled back their spending over the last week as rising gasoline prices - the highest since October 20, 2008 - and unfavorable weather added to their cautiousness," said Michael P. Niemira, ICSC chief economist. He added for June, ICSC Research expects sales excluding Wal-Mart Stores Inc. (WMT) to be down about 5%.
Posted: June 16, 2009 Tuesday 07:45 AM