NEW YORK (MNI) – The following is the International Council of
Shopping Centers analysis of the day’s same-store sales results for
April, published Thursday:
U.S. chain-store sales rose by a stronger than expected 8.5% on a
year-over-year basis according to the International Council of Shopping
Centers. The shift in the date of Easter (April 4, 2010 vs.
April 24, 2011) and the price of fuel propelled the increase by roughly
2-3 percentage points. The 8.5% increase was the strongest since March
2010 (+9.0%).
“Helping to drive sales has been the improving trend in employment
growth, but rising fuel and food prices are cutting into discretionary
spending power, which is likely to temper the trend pace of spending
ahead,” said Michael P. Niemira, chief economist and director of
research for ICSC.
Looking ahead, ICSC Research anticipates a gain of 3% to 3.5% for
the month of May.
** Market News International New York Newsroom: 212-669-6430 **
[TOPICS: MAUDS$,M$U$$$]
