Research >> Economics
ICSC Chain Store Sales declined slightly by 0.3% in Apr 12 Wk
Warmer weather brought mixed results as some retail segments finally warmed up as others seemingly cooled down this past week. For the first fiscal week of April, retailers saw weekly sales decline slightly by 0.3%, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index. However, on a year-over-year basis sales improved to 2.3%--its strongest reading in more than two months.
"As temperatures turned seasonally warmer for the week, retail business was stronger for discounters, dollar stores, wholesale clubs, office, and furniture stores relative to the same week of the prior year, according to the ICSC-Goldman Sachs consumer channel tracking survey. But some segments lagged for the week, including drug, department and apparel stores," said Michael Niemira, ICSC vice president of research and chief economist. "Encouragingly, the year-over-year pace of sales advanced by its strongest rate since matching its February 18th performance and bodes well for April," Niemira 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 15, 2014 Tuesday 07:45 AM