Research >> Economics
ICSC Chain Store Sales rose 2.9% in May 31 Wk
U.S. chain-store sales rose 3.1 percent year on year for the week that ended on May 31, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Comparable-store sales rose 2.9 percent compared with the previous week, in large part due to a national holiday weekend.
“Sales soared over the past week, which included the Memorial Day holiday, after consumers seemingly deferred spending in the prior week and a bout of hot weather helped drive demand for seasonal goods,” said Michael Niemira, ICSC's vice president of research and chief economist. “Looking ahead, ICSC Research forecasts that May monthly comparable‐store sales will increase between 3 percent and 3.5 percent on a year over year basis when most retailers report their monthly figures on Thursday, June 5, 2014.”
Posted: June 3, 2014 Tuesday 07:45 AM