Research >> Economics
ICSC Chain Store Sales rose by 0.4% in Apr 19 Wk
The International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index rose by 0.4% on a week-over-week basis ending April 19. Sales on a year-over-year basis posted a solid 1.9% increase. This increase comes on the heels of last week's 2.3% gain which was the strongest reading in the past two months.
"Sales during the pre-Easter week posted a moderate gain, with retailers stepping up their promotions, but Mother Nature refused to cooperate as another bout of unseasonably cool weather hit much of the country," noted Michael Niemira, ICSC vice president of research and chief economist. "Even so, the gain marks the second straight solid performance from a yearly standpoint, good news for when the weather finally turns," he added.
For April, ICSC Research forecasts that monthly comparable-store sales will increase by 3.5% to 4.0%. This is taking into account the potential for a weather drag on sales as mild spring weather appears will be slow to roll in, but accounts for the lift from the later Easter.
Posted: April 22, 2014 Tuesday 07:45 AM