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U.S. Chain-Store Sales +2%

Aug 7, 2012 8:11 AM   By Avi Krawitz
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RAPAPORT... U.S. chain-store sales rose 2.4 percent year on year for the week that ended on August 4, ‎according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. ‎However, on a week-to-week basis, comparable-store sales were flat.‎

‎“Consumers were not in much of a shopping mood during the first week of the August ‎fiscal month,” said Michael Niemira, ICSC's vice president of research and chief ‎economist.  “However, as the reality of the new school year soon beginning for many ‎students sinks in, ICSC expects back-to-school spending to accelerate.”‎

ICSC Research anticipates that comparable-store sales will increase by between 4 ‎percent and 5 percent overall in August, driven by students’ back-to-school buying and ‎promotional activity for luxury merchandise. ‎
Tags: Avi Krawitz, Back-to-school, chain-stores, Jewelry, luxury, Rapaport, retail
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