Research >> Economics
ICSC Chain Store Sales rose by a solid 1.0% in Jun 28 Wk
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The International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index rose by a solid 1.0% in the latest week (ending June 28) over the previous week. On a year-over-year basis sales increased even more rapidly posting a 4.6% increase - the strongest y-o-y pace since December 31, 2011.
"Business was up sharply for most segments, especially at department stores, apparel stores, discounters and wholesale clubs," noted Michael Niemira, ICSC research consultant. "Gasoline prices - which impact consumer discretionary purchasing power - stayed flat, providing consumers the ability to spend their money elsewhere," he added.
June 2014 expectations: It seems that after a winter that saw very adverse weather conditions in much of the country, the consumer unleashed some pent up demand in April and May. For June, ICSC Research expects sales will continue to post solid figures, increasing by 3.5% over the previous year. Fiscal month sales will be reported on July 10.
Posted: July 1, 2014 Tuesday 07:45 AM