Research >> Economics
ICSC Chain Store Sales rose just 0.4% in Apr 27 Wk
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U.S. chain-store sales rose 2.6 percent year on year for the week that ended on April 27, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. On a week-to-week basis, comparable-store sales rose just 0.4 percent led by stronger consumer spending at wholesale clubs and drugstores.
"Although the U.S. chain sales performance has been a bit choppy in recent weeks, the rolling trend shows modest improvement,” said Michael Niemira, ICSC's vice president of research and chief economist. “An extended streak of cool seasonal temperatures this year has curbed the consumers’ appetite for spring apparel and will likely mean more clearance discounting in the coming weeks. Ideally, a bout of extended warm spring weather might do wonders to lift that seasonal demand.”
ICSC anticipates same-store sales will increase by between 2 percent and 3 percent in April. 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.
Posted: April 30, 2013 Tuesday 07:45 AM