Research >> Economics
ICSC Chain Store Sales up 0.1% in Apr 10 Wk
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The International Council of Shopping Centers (ICSC) reported that chain store sales rose a slight 0.1% from the prior week, the fourth consecutive gain, while sales gained a strong 4.0% from the year-ago period. As expected, there was somewhat of a drop-off during the post-Easter week compared to last week’s 4.7% YoY increase, but lingering warm weather helped to keep apparel sales relatively strong even as customer traffic at discount stores moderated. “Sales were impacted by the usual post-Easter seasonal weakness, but adjusted for that, sales edged up for the fourth consecutive gain and were helped by seasonally warm weather that continued to drive spring-merchandise demand,” said Michael Niemira, ICSC’s chief economist. ICSC Research expects April comp store sales to be flat to down 3% as the earlier Easter pulled sales into March from last year. However, the combined March-April period is projected to show a healthy 4% increase from last year.
Posted: April 13, 2010 Tuesday 07:45 AM