Research >> Economics
ICSC Chain Store Sales up 1.4% in Jul 17 Wk
After last week’s sales decline retailers saw the sales trend reverse itself as a result of easy comparisons and hot weather which drove consumers indoors as a way to avoid the heat. According to the ICSC and Goldman Sachs Weekly Chain Store Sales Snapshot weekly chain store sales increased by 1.4 percent overall for the week ending July 17, 2010. On a year-over-year basis, the sales index also improved and rose by 4.2 percent the strongest since May 8, 2010 (+4.3%).
“Retailers experienced a decent spurt in sales this past week following last week’s decline,” said Michael Niemira, ICSC director of research and chief economist. “However, over the last two weeks, the seasonally-adjusted sales performance was relatively flat. For the month, ICSC Research expects July sales to be up between 3.0 to 4.0 percent compared with a hefty 5.0 percent decline in July 2009,” Niemira added.
Posted: July 20, 2010 Tuesday 07:45 AM