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ICSC Chain Store Sales up 1.1% In Mar 28 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index increased 1.1% in the week to March 28 from its level a week before, on a seasonally-adjusted, comparable store basis. On a year-on-year basis, retailers saw sales decline by 0.2% in the latest week.
"This solid weekly increase is a good omen for the retail sector and economy - though demand improvement has a long road back," said Michael P. Niemira, ICSC chief economist The weekly result Tuesday followed a decline of 0.4% in the prior week and a 0.1% decline in the week before that.
Posted: March 31, 2009 Tuesday 07:45 AM