Research >> Economics
ICSC Chain Store Sales rose by 0.7% in Mar 10 Wk
|
The International Council of Shopping Centers (ICSC) reported that chain store sales rose 0.7% from the prior week and increased a modest 2.3% over the prior-year period during the week ending Mar 10th. More color in fashion and the unleashing of some pent‐up demand for apparel seemingly are helping apparel stores. The ICSC‐GS consumer tracking survey found an impressive pickup in apparel business over the last week. The channel‐tracking survey found that grocery stores and dollar stores had improvement in business over the past week as well. On the other hand, the survey suggested that discount stores saw business recede somewhat.
According to Weather Trends International (WTI), the national average temperature over the past week ending Saturday was 2.8°F warmer than last year and 3.2°F warmer than its long‐term average. As bouts of warmer than normal weather continue, that also should continue to help spring apparel demand. Gasoline prices continued to march higher and pare consumer discretionary purchasing power. The US Energy Information Administration said gas prices jumped by another 3.6 cents compared with the prior week’s price to $3.849 on Mar 12, the highest since May 23 and 60 cents higher per gallon just since Christmas. For all of March, ICSC Research forecasts a 3% to 3.5% gain compared with a 2.0% rise in March 2011.
Posted: March 13, 2012 Tuesday 07:45 AM