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ICSC Chain Store Sales up 1.0% in Jul 3 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index jumped 1% in the week ended Saturday from the week before on a seasonally adjusted, comparable-store basis. The increase--the second consecutive weekly increase--came as consumers ventured out into the heat to make purchases before the July 4 holiday, ICSC said.
"Lingering hot weather, as well as a calendar shift, certainly helped to drive seasonal demands on Saturday ahead of the Independence Day holiday," ICSC chief economist Michael Niemira said. On a year-on-year basis, the reading rose 3.9% last week, its biggest such climb in two months.
Posted: July 7, 2010 Wednesday 07:45 AM