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ICSC Chain Store Sales Down 0.9% In Aug 15 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index was down 0.9% 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 decrease 0.6% in the latest week.
Michael P. Niemira, ICSC chief economist, said consumers remained cautious and despite better weather, which may have helped clear summer merchandise, summer items were heavily discounted and didn't help reported sales.
Posted: August 18, 2009 Tuesday 07:45 AM