Research >> Economics
ICSC Chain Store Sales down 2.5% in May 15 Wk
Unseasonable and cold weather put the freeze on weekly sales this past week. As a result, for the week ending May 15, weekly sales fell by 2.5 percent, according to the ICSC-Goldman Sachs weekly sales index. On a year-over-year basis sales were also affected and slowed to 2.9 percent.
“Spring goods were adversely impacted by a bout of unfavorable weather during the week which, according to Weather Trends International, had the coldest national conditions in more than 18 years,” said Michael Niemira, ICSC director of research and chief economist. “Despite this past week and another calendar quirk to deal with for the May fiscal month, the underlying pace of demand continues to be healthy. For the month of May, ICSC Research expects sales will increase by approximately 3.5 percent,” Niemira added.
Posted: May 18, 2010 Tuesday 07:45 AM