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ICSC Chain Store Sales rose by 1.4% in Mar 16 Wk
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The ICSC‐Goldman Sachs (ICSC‐GS) chain store sales index for the week ending March 16, 2013 rose by 1.4% from its prior week's level and its year‐over‐year pace improved to 2.3%. According to the ICSC‐GS consumer tracking survey, retail business was stronger over the past week than the prior week’s pace at grocery stores, apparel stores, discounters and wholesale clubs. However, business was weaker at office and dollar stores. Other retail segments were relatively steady. For the week, weather was a neutral‐to‐positive factor for the country.
According to Weather Trends International, Inc. (WTI), the U.S. average nationwide temperature during this past week ending March 16 was a negligible 0.2°F colder than last year, but 1.4°F warmer than its long‐term trend. WTI warned, however, that retailers should “brace ... for large year‐over‐year declines in spring‐category demand [during the March 17‐23 week as] year‐over‐year temperature trends do not get much worse [that is, colder] than” WTI projects for this week. On the positive side for consumers’ wallets, the average price of a gallon of regular‐grade gasoline receded for the three‐consecutive week.
According to the U.S. Energy Information Administration, the U.S. average price of a gallon of regular grade gasoline was $3.696 on March 18, 2013‐‐down 4.4 cents from the prior week or 8.8 cents over the past three weeks, after a hefty 53 cents cumulative gain over the prior ten weeks.
Posted: March 19, 2013 Tuesday 07:45 AM