Research >> Economics
ICSC Chain Store Sales fell 1.3% in May 17 Wk
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U.S. chain-store sales rose 2.4 percent year on year for the week that ended on May 17, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. However, comparable-store sales fell 1.3 percent compared with the previous week.
“This past week’s slippage was mainly due to Mother Nature as a very slow moving storm left heavy snow in the Rockies and flooding in the East,” said Michael Niemira, ICSC's vice president of research and chief economist. “Weather Trends International (WTI) reported that ‘It was the coldest second week of a retail May in four years and the wettest in more than 23 years.’ But despite the weather, business at more retail segments were positive than negative relative to the same week in the prior year, which is an encouraging sign.”
ICSC Research anticipates that chain-store sales will increased between 3 percent and 3.5 percent in May. 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: May 20, 2014 Tuesday 07:45 AM