WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
With the Easter-sales catalyst behind and weather turning
unseasonably cool, weekly sales weakened. Overall for the week ending
April 14, retail sales slipped by 1.0%, according to the International
Council of Shopping Centers (ICSC) and Goldman Sachs’ Weekly Chain Store
Sales Index. On a year-over-year basis sales remained positive, but
slowed to 3.2% — its slowest momentum in three weeks.
“With the Easter holiday beginning this past Sunday, it is not
surprising that seasonal apparel demand slowed in its aftermath, but
cooler temperatures also brought a chill to the industry,” said Michael
Niemira, ICSC vice president of research and chief economist. “Despite
the setback this past week, retail sales are still up cumulatively over
the past three weeks,” added Niemira.
For April, ICSC expects that comp-store sales will increase between
3.0% and 4.0% compared with a “tough” Easter?sales?inflated gain of 8.5%
in April 2011.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
