Research >> Economics
ICSC Chain Store Sales Decline 1.6% in Jul 27 Wk
The retail industry once again experienced sales volatility as strong sales were seen at some retailers while others endured weaken weekly sales this past week. Despite the strong sales at some retailers the net result for the industry overall was a sales decline of 1.6% for the week ending July 27, 2013, according to on the International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index. On a positive note, on a year-over-year basis sales showed some strength and rose by 2.2%
"It was another mixed week of sales results for retailers as strong business was seen in the staple sales categories of grocery, drug, wholesale clubs and dollar stores, but weak demand at the more discretionary stores (department, apparel, electronics, office)," said Michael Niemira, ICSC vice president of research and chief economist. "As the fiscal month comes to an end this week, the industry should begin to see some overall improvement with a sales incentive coming from back-to-school shopping, as well as some state sales tax holidays kicking in August," Niemira added.
For the fiscal month of July, ICSC Research anticipates chain store sales will increase between 3.0% and 3.5%, following the June rise of 4.1%.
Posted: July 30, 2013 Tuesday 07:45 AM