Research >> Economics
ICSC Chain Store Sales rose slightly by 0.2% in Aug 24 Wk
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Mixed results continue to reign in on retailers as the traditional summer lull settled in this past week. As a result, for the week ending August 24, 2013 weekly sales rose slightly by 0.2%, according to on the International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index. However, on a year-over-year basis sales slowed to 1.9% -which was the slowest pace since July 13, 2013.
"Overall most retail segments were sluggish this past week as the summer lull kicked in," said Michael Niemira, ICSC vice president of research and chief economist. "Despite the fact the week was slow for the industry overall there were some exceptions as sales rose for grocery, electronic and books and jewelry retailers. Hopefully, an uptick in back-to-school and fall apparel demand in the last week of the fiscal month will kick up the sales pace for the month," Niemira added.
For the fiscal month of August, For August, ICSC research anticipates that the upward trend will remain in the 4.5-5.0% range.
In observance of Labor Day, next week's ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot will be released on Wednesday, September 4, 2013.
Posted: August 27, 2013 Tuesday 07:45 AM