Research >> Economics
ICSC Chain Store Sales rose by 1.1% in Jun 22 Wk
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U.S. chain-store sales rose 1.6 percent year on year for the week that ended on June 22, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Weekly comparable-store sales rose by 1.1. percent, signaling the best performance in three weeks.
“Sales periods are not restated to match Father’s Day 2013 compared with 2012, which is a key reason for the weakness in the year-over-year pace in the latest week,” said Michael Niemira, ICSC's vice president of research and chief economist. ''However, it is likely that the year-over-year pace will get a lift in the upcoming week as that calendar issue reverses.''
ICSC Research anticipates comparable-store sales will increase by between 3 percent and 3.5 percent for the month of June. 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: June 25, 2013 Tuesday 07:45 AM