WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released
Tuesday:
After last week’s sales increase retailers saw their sales dipped
as consumers took a slight break from shopping this past week. As a
result, for the week ending June 12, weekly sales declined by 0.7
percent, according to the ICSC-Goldman Sachs weekly sales index. On a
year-over-year basis sales grew by 2.9 percent, which was a marginally
slower pace than during the prior week.
“Sales dipped in the latest week from the prior week, though the
year-over-year momentum continued only slightly under the prior week’s
pace,” said Michael Niemira, ICSC director of research and chief
economist. “The weekly pace appears to be a bit more volatile than in
recent weeks, but, the month’s easy comparisons will lift the
year-over-year pace throughout the month. Overall for the month ICSC
Research expects sales will increase by 3.0 to 4.0 percent,” Niemira
added.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
