Research >> Economics
ICSC Chain Store Sales fell 0.2% in Aug 10 Wk
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U.S. chain-store sales rose 2.6 percent year on year for the week that ended on August 10, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. However, weekly comparable-stores sales fell 0.2 percent.
“Aggregate chain store sales slipped a tad over this past week as some shifts in consumer spending occurred,” said Michael Niemira, ICSC's vice president of research and chief economist. “According to the ICSC-Goldman Sachs consumer tracking survey, department, apparel, drug, grocery and specialty stores saw an improvement in their business, while discounters, dollar and electronics stores seemingly fell shy of their year-ago customer traffic pace.”
Even with mixed results so far, ICSC Research remains optimistic that comparable-store sales in August will increase by between 4.5 percent and 5 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: August 13, 2013 Tuesday 07:45 AM