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U.S. Chain-Store Sales +3%

Weekly sales trend lower again, notes ICSC.
Jun 12, 2012 7:46 AM   By Jeff Miller
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RAPAPORT... U.S. chain-store sales rose 2.9 percent year on year for the week that ended on June 9, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. However, the week-to-week change in comparable-store sales fell 0.7 percent.

"Weekly sales have been trending lower since April and the latest week’s performance was hurt by cool and wet weather [in some parts of the U.S.],” said Michael Niemira, ICSC's vice president of research and chief economist.  “Though with declining gasoline prices and the arrival of the official start of the summer season on June 20th next week, those factors might just give consumers the motivation they need to lift sales in coming weeks,” Niemira added.

ICSC Research anticipates comparable-store sales will increase 1.5 percent to 2 percent overall in June, with stronger performance when drug store sales are removed from the equation. 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.

Tags: chain-stores, comparable, ICSC, Jeff Miller, retail, sales
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