Research >> Economics
ICSC Chain Store Sales edged up 0.7% in Apr 6 Wk
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The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index edged up 0.7% in the week ended Saturday from the week before on a seasonally adjusted, comparable-store basis, as cold weather damped down spring-merchandise sales. U.S. weekly chain-store sales rose 2.1 percent year on year for the week that ended on April 6.
"Abnormally cold weather throughout the fiscal month of March for much of the country curbed the consumers’ appetite for spring apparel," said Michael Niemira, ICSC's vice president of research and chief economist. Sales for the current week were affected by those cooler than average temperatures as well, he added.
ICSC anticipates same-store sales will increase between 2 percent and 3 percent in April. The weekly chain-store sales snapshot is produced by ICSC and Goldman Sachs to measure U.S. nominal same-store, or comparable-store, sales while excluding restaurant and vehicle demand. The weekly sales index is presented on an adjusted basis to account for normal seasonal and other data anomalies.
Posted: April 9, 2013 Tuesday 07:45 AM