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ICSC Chain Store Sales down 1.2% In May 16 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index fell 1.2% in the week ended Saturday from its level a week before on a seasonally adjusted, comparable-store basis. On a year-on-year basis, retailers saw sales fell 0.3% in the latest week.
"Coming off of Mother's Day shopping, the latest week's traffic and sales slowed dramatically and affected retailers largely across the board" said Michael P. Niemira, ICSC chief economist. He added that retailers faced challenges in comparisons to last May, when consumers received about $50 billion in federal tax rebates.
Posted: May 19, 2009 Tuesday 07:45 AM