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ICSC Chain Store Sales edged up 0.5% in Aug 25 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index edged up 0.5% in the week ended Saturday from the week before on a seasonally adjusted, comparable-store basis, as back-to-school shopping helped to reverse recent declines.
"A bout of cooler weather nationally and more school systems beginning their new school year gave consumers the motivation they needed to spend, helping to lift overall back-to-school shopping and weekly sales this past week," said ICSC Chief Economist Michael Niemira.
ICSC expects August industry sales will increase 3.5% to 4.5%, excluding drug stores sales. On a year-on-year basis, the reading rose 3.4%.
Posted: August 28, 2012 Tuesday 07:45 AM