WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
After two consecutive weeks of strong positive weekly sales gains
retailers saw their sales take a breather as weekly sales declined by
1.5 percent overall, according to the ICSC and Goldman Sachs. On a
year-over-year basis, sales also slowed to 3.2 percent but continued to
remain positive.
“Sales showed a mixed performance over the past week as the
seasonally-adjusted year-over-year pace continued to risealthough the
unadjusted pace was much stronger due to the holiday-sales lift from a
calendar shift in when the Independence Day federal holiday was
celebrated in 2010 and 2009,” said Michael Niemira, ICSC director of
research and chief economist. “For the month, ICSC Research expects
July sales to be up between 3.0 to 4.0 percent compared with a hefty 5.0
percent decline in July 2009,” Niemira added.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
