Research >> Economics
ICSC Chain Store Sales rose just 0.2% in May 18 Wk
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U.S. chain-store sales rose 3.1 percent year on year for the week that ended on May 18, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Retail sales were basically flat, or up 0.2 percent, week-to-week, according to the tracking study.
"Consumers played catch-up this past week and helped to propel weekly sales for retailers,” said Michael Niemira, ICSC's vice president of research and chief economist. “However, weather conditions continue to play havoc with the weekly pace of sales."
For the month of May, ICSC Research anticipates comparable-store sales to increase between 2 percent and 3 percent. The weekly chain-store sales snapshot is produced by ICSC and Goldman Sachs to measure U.S. nominal same-store, or comparable-store, sales while excluding restaurant and vehicle demand. The weekly sales index is presented on an adjusted basis to account for normal seasonal and other data anomalies.
Posted: May 21, 2013 Tuesday 07:00 AM