WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
More favorable seasonal weather gave retailers something to smile
about this past week as retail sales rose for the second consecutive
week. As a result, overall retail sales rose by 0.4 percent for the
week ending June 4, according to the ICSC-Goldman Sachs Weekly Chain
Store Sales Index. On a year-over-year basis retail sales remain
positive but slowed once again by 2.5 percent.
“More favorable seasonal weather aided in increasing the average
spending, but customer traffic was seemingly a tad lighter overall for
the week,” said Michael Niemira, ICSC vice president of research and
chief economist. “Since June ranks as the second highest volume month
of the year, this makes it a very important month for the fiscal
quarter’s performance, as well as company earnings,” added Niemira.
ICSC Research forecasts that June industry sales will increase by
between 3.0 to 4.0 percent, excluding the impact of fuel, and between
4.0 to 5.0 percent with fuel sales included.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
