Research >> Economics
ICSC Chain Store Sales rose by -0.5% in Mar 24 Wk
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The following is the commentary from the ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
With the official arrival of the spring this past week, retailers had mixed results. The net retail sales performance for the week ending March 24 slipped by 0.5% based on the International Council of Shopping Centers (ICSC) and Goldman Sachs' Weekly Chain Store Sales Index. On a year-over-year basis retail sales marched on at a slower pace of 2.7%.
"During this past week business appeared to be softer at department and apparel stores, but, discounters seemingly picked up, thus providing mixed performance for the industry," said Michael Niemira, ICSC vice president of research and chief economist. "Heading into the last week of the fiscal month, the industry will likely see a stronger pick-up in apparel demand with the early arrival of Easter (April 8, 2012 vs. April 24, 2011) this year," added Niemira.
For March, ICSC expects that comp-store sales will increase between 3.0% - 5.0% for the industry overall.
Posted: March 27, 2012 Tuesday 07:45 AM