Research >> Economics
ICSC Chain Store Sales down 1.6% in Jul 10 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index fell 1.5% in the week ended Saturday from the week before on a seasonally adjusted, comparable-store basis. The drop--the biggest in nearly two months--came as retailers saw sales "take a breather" after two consecutive weeks of "strong positive weekly sales gains," ICSC said. Sales had risen 1% and 2.1% in the prior two weeks.
ICSC Chief Economist Michael Niemira added sales showed a "mixed performance" in the past week, though year-over-year sales unadjusted for seasonal factors were boosted because of a calendar shift when Independence Day was celebrated. On a year-on-year basis, the reading rose 3.2% last week.
Posted: July 13, 2010 Tuesday 07:45 AM