Research >> Economics
ICSC Chain Store Sales climbed 1.6% in Apr 26 Wk
U.S. chain-store sales rose 3.1 percent year on year for the week that ended on April 26, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Comparable-store sales climbed 1.6 percent compared with the previous week.
"Sales posted a healthy sequential and year over year gain as a bout of warmer-than-normal weather helped to lift seasonal demand (in the Midwest and East),” said Michael Niemira, ICSC's vice president of research and chief economist. “Moreover, despite the Easter Sunday store closures, business was brisk across the board for retailers over the past week. The ICSC-Goldman Sachs consumer tracking survey suggested that business was especially robust relative to the prior year's week for wholesale clubs, with strong performance for apparel, dollar and drug stores, as well.”
ICSC Research anticipates that chain-store sales will increased between 3.5 percent and 4 percent in April. 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: April 29, 2014 Tuesday 07:45 AM