Research >> Economics
ICSC Chain Store Sales down 0.8% in May 22 Wk
Retailers once again saw their sales dip as consumers pulled back a bit on their discretionary spending this past week. Overall for the week ending May 22, weekly sales slipped by 0.8 percent, according to the ICSC-Goldman Sachs weekly sales index. On a year-over-year basis sales were also affected and slowed to 1.3 percent.
“Sales continued to soften over the latest week as mixed regional influences from weather combined with uneven traffic and some softer spending by consumers led to the decline,” said Michael Niemira, ICSC director of research and chief economist. “Given the last two weeks sales are now tracking about 2.0 to 2.5 percent for the month which is somewhat below ICSC Research’s earlier expectation of approximately 3.5 percent,” Niemira added. In observance of Memorial Day, the ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot will be released on Wednesday, June 2, 2010.
Posted: May 25, 2010 Tuesday 07:45 AM