WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released

As most of the countrys weather heated up this past week so did
weekly retail sales giving retailers their third consecutive week of
positive sales results. Overall for the week ending July 9, weekly
retail sales rose once again by a modest 0.4 percent, according to the
ICSC-Goldman Sachs Weekly Chain Store Sales Index. However, on a
year-over-year basis retail sales soared by 5.5 percent from the prior
week – the largest year-over-year increase in well over a year (April
24, 2010).

“The healthy sales momentum continued from June into the July
fiscal month, helped by hot weather,” said Michael Niemira, ICSC vice
president of research and chief economist. “As we move through the next
few weeks summer clearance sales, as well as back-to-school spending
will set the pace for sales throughout the month,” Niemira added.

ICSC Research expects July sales will likely increase between 4.5
to 5.5 percent –more in line with its year-to-date trend — and by 3.5
to 4.5 percent, excluding the impact of fuel.

** Market News International Washington Bureau: 202-371-2121 **