Research >> Economics
ICSC Chain Store Sales rose by 3.6% in Mar 29 Wk
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The International Council of Shopping Centers (ICSC) and Goldman Sachs (GS) Weekly Chain Store Sales Index rose by a sharp 3.6% on a week-over-week basis ending March 29. Sales on a year-over-year basis were hampered by yet another bout of adverse seasonal weather, posting a 0.6% increase.
"According to Weather Trends International, the average national temperature was 4.0 degrees Fahrenheit cooler than normal for the past week marking the fourth coldest last week of March in more than 23 years. This certainly impacted consumers mindset to shop, and the ICSC-GS survey bears that out, as it saw its highest percentage over the last four years of consumers reporting they didn't shop through any channel," noted Michael Niemira, ICSC vice president of research and chief economist. "Looking ahead, we anticipate pent-up consumer demand for spring apparel to drive sales as warmer weather returns," he added.
For March, ICSC Research forecasts that sales will increase by 3% over the same period last year.
Posted: April 1, 2014 Tuesday 07:45 AM