Research >> Economics
ICSC Chain Store Sales down 1.3% in Aug 14 Wk
For the third consecutive week retailers experienced a sales decline despite consumer traffic remaining steady. Overall, for the week ending August 14, retailers saw their weekly sales decline by 1.3 percent, according to the ICSC and Goldman Sachs Weekly Chain Store Sales Index. On a year-over-year basis, the sales index continues to remain positive but slowed to 3.3 percent.
“Although customer traffic is holding up, the pricing environment has weakened and has constricted reported sales gains–especially over the last week,” said Michael Niemira, ICSC director of research and chief economist. “ICSC Research continues to expect monthly sales will grow by about 3.0 percent above year-ago levels for the fiscal month of August,” Niemira added.
Posted: August 17, 2010 Tuesday 07:45 AM