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U.S. Chain-Store Sales +2%

Jun 11, 2013 7:45 AM   By Jeff Miller
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RAPAPORT... U.S. chain-store sales rose 2.2 percent year on year for the week that ended on June 8, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. However, weekly comparable-store sales fell 2.7 percent as consumers' desire to shop waned, according to ICSC.

"The across‐the‐board weakness was seen in nearly every retail category and was most likely due to the impact of considerable precipitation across parts of the country,” said Michael Niemira, ICSC's vice president of research and chief economist. “Heavy rain ‐‐ a result of the first tropical storm of the year ‐‐ made landfall in Florida and traveled up the East coast which curbed the consumer’s willingness, and ability, to shop and sales dipped sharply as a result. However, despite the results this past week ICSC expects that sales will bounce back over the course of the month.”

ICSC Research anticipates comparable-store sales will increase by between 3 percent and 3.5 percent for the month of June. 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, Consumers, ICSC, Jeff Miller, sales
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