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ICSC Chain Store Sales fell 1.2% in May 24 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index fell 1.2% in the week ended Saturday from the previous week on a seasonally adjusted, comparable-store basis.
"The latest week's decline was, in part, due to the increased number of Americans traveling this past holiday weekend," according to Michael Niemira, ICSC vice president of research and chief economist. He cited AAA estimates that 36.1 million people in the U.S. would travel more than 50 miles from home, a post-recession high and the second-highest amount since 2000.
May same-store sales are expected to grow between 3% and 3.5% on a year-over-year basis. April same-store sales improved by 6.2%.
On a year-to-year basis, the weekly reading rose 2.1%.
Posted: May 28, 2014 Wednesday 07:45 AM