Research >> Economics
ICSC Chain Store Sales down 0.7% in Jun 12 Wk
After last week’s sales increase retailers saw their sales dipped as consumers took a slight break from shopping this past week. As a result, for the week ending June 12, weekly sales declined by 0.7 percent, according to the ICSC-Goldman Sachs weekly sales index. On a year-over-year basis sales grew by 2.9 percent, which was a marginally slower pace than during the prior week.
“Sales dipped in the latest week from the prior week, though the year-over-year momentum continued only slightly under the prior week’s pace,” said Michael Niemira, ICSC director of research and chief economist. “The weekly pace appears to be a bit more volatile than in recent weeks, but, the month’s easy comparisons will lift the year-over-year pace throughout the month. Overall for the month ICSC Research expects sales will increase by 3.0 to 4.0 percent,” Niemira added.
Posted: June 15, 2010 Tuesday 07:45 AM