WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
With the fiscal month of July coming to a close this past Saturday,
retailers saw their sales decline a bit as they are in the middle to two
selling periods summer clearance and back-to-school. As a result,
weekly retail sales were a tad softer and fell slightly by 0.1 percent
according to the ICSC and Goldman Sachs Weekly Chain Store Sales
Snapshot. On a year-over-year basis, the sales index improved and rose
by 3.9 percent.
“The retail fiscal month ended on a slightly softer note as
retailers are in a shoulder period between summer clearance and
back-to-school,” said Michael Niemira, ICSC director of research and
chief economist. “The lingering hot weather continues to be a negative
for back-to-school and fall merchandise demand. For the fiscal month
of July sales are likely to increase between 3.0 to 4.0 percent with
increased unevenness across the industry,” Niemira added.
Please note that ICSC will be releasing retail sales figures for
July on Thursday, August 5, 2010.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
