Research >> Economics
ICSC Chain Store Sales increased 0.3% in Apr 16 Wk
With economic crosswinds stronger in recent weeks consumer confidence grew giving retailers another week of positive sales results. Being adjusted for seasonality and calendar shifts, weekly retail sales rose by 0.3 percent for the week ending April 16, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Index. On a year-over-year basis, retail sales grew by 3.0 percent, keeping with the recent underlying sales trend.
“Overall, sales trends continue to be relatively healthy as Easter-related demand heated up this past week,” said Michael Niemira, ICSC vice president of research and chief economist. “The pace of sales is likely to continue to heat up over the next week as Easter-related purchases of apparel, candy, food and other items will be at the forefront of consumers minds,” Niemira added.
For April, ICSC Research anticipates that due to the shift in the date of Easter this year compared with last (April 4, 2010 vs. April 24, 2011) monthly retail sales should boom and increase to between 5.0 to 6.0 percent for the month
Posted: April 19, 2011 Tuesday 07:45 AM