Research >> Economics
ICSC Chain Store Sales slipped by 1.5% in Mar 22 Wk
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fter three weekly sequential sales gains retailers experienced mixed results as retail demand varied across categories and overall was softer than the prior week. For the week ending March 22, 2014 weekly sales slipped by 1.5%, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index. However, on a positive note, the year-over-year pace remained strong and rose by 1.7%.
"Sales on a year-over-year basis were a tad stronger though segment demand was mixed across retail categories," said Michael Niemira, ICSC vice president of research and chief economist. "According to the ICSC-GS consumers tracking survey dollar and electronics stores saw a strong improvement while discounters and apparel stores improved on a year-over-year basis. However, business was softer than the same week of the prior year for grocery, drug, department, furniture stores and wholesale clubs," Niemira added.
For March ICSC Research expects monthly comparable store sales will increase by about 3.0%.
Posted: March 25, 2014 Tuesday 07:45 AM