WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
NEW YORK (May 18, 2010) – Unseasonable and cold weather put the
freeze on weekly sales this past week. As a result, for the week ending
May 15, weekly sales fell by 2.5 percent, according to the ICSC-Goldman
Sachs weekly sales index. On a year-over-year basis sales were also
affected and slowed to 2.9 percent.
“Spring goods were adversely impacted by a bout of unfavorable
weather during the weekwhich, according to Weather Trends
International, had the coldest national conditions in more than 18
years,” said Michael Niemira, ICSC director of research and chief
economist. “Despite this past week and another calendar quirk to deal
with for the May fiscal month, the underlying pace of demand continues
to be healthy. For the month of May, ICSC Research expects sales will
increase by approximately 3.5 percent,” Niemira added.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
