Research >> Economics
ICSC Chain Store Sales rose 0.4% in Jun 14 Wk
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After last week's slip retailers saw their weekly retail sales gain some positive momentum as consumers picked up their pace of shopping. As a result, for the week ending June 14 weekly sales rose by 0.4% according to the International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index. In addition to the positive weekly sales increase, on a year-over-year basis, sales continued to strengthen and rose by 3.1%.
"The good news is that despite some unfavorable seasonal weather, consumers were still out shopping during this past week," said Michael Niemira, ICSC vice president of research and chief economist. "Business was up sharply relative to the same week of the prior year for wholesale clubs, and up appreciably for apparel, dollar, furniture, discounter, office and department stores, according to the ICSC-GS consumer tracking survey," 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 17, 2014 Tuesday 07:45 AM