Research >> Economics
ICSC Chain Store Sales increased 0.1% in Apr 9 Wk
As expected the Easter sales shift shifted into gear giving retailers an inflated unadjusted year-over-year rise and adding volatility to the weekly performance. However adjusted for seasonality and calendar shifts weekly retail sales increased slightly (0.1%) for the week ending April 9, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Index. On a year-over-year basis, retail sales remain positive and rose slightly faster than the prior week by 2.9 percent, but largely keeping with the recent underlying sales trend.
“Sales edged up from last week as consumer and sales trends should be relatively strong over the upcoming weeks, as Easter and spring sales kick in,” said Michael Niemira, ICSC vice president of research and chief economist. “A late Easter — as it is the case this year — is better typically for April sales as weather is generally warmer and drives stronger apparel demand,” Niemira added.
For April, ICSC Research anticipates that due to the shift in the date of Easter this year compared with last (April 4, 2010 vs. April 24, 2011) monthly retail sales should boom and increase to between 5.0 to 6.0 percent for the month.
Posted: April 12, 2011 Tuesday 07:45 AM