WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
In the final fiscal week of April, chain-store sales faced a
range of negative influences from tornadoes and power outages curbing
consumers’ ability to shop in some regions through rising gasoline
prices affecting consumers’ ability to spend. But still, consumers more
generally were shoppingaccording to the ICSC-Goldman Sachs weekly
customer traffic surveywith factory outlets and malls favored. The net
sales effect for the week ending April 30accounting for the seasonal
impact of Easter Sunday (April 24, 2011) store closuresshowed a decline
of by 0.8 percent, according to the ICSC-Goldman Sachs Weekly Chain
Store Sales Index. On a year-over-year basis, retail sales slowed to 2.8
percent.
“Retailers closed their sales ledger in final fiscal week of April
with weakness in sales from adverse weather and rising gasoline prices,”
said Michael Niemira, ICSC vice president of research and chief
economist. “For April, ICSC Research anticipates monthly industry retail
sales will increase by between 5.0 and 6.0 percentinflated by about 1.0
to 2.0 percentage points from the year-over-year shift the date of
Easter and its impact on seasonal saleswhen retailers report monthly
comp-store sales on Thursday, May 5, 2011,” Niemira added.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
