WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
Retailers ended the month of March on a high note as consumers
roared in and shopped for Easter-related items. The overall net result
was positive with weekly sales rising by a strong 3.8% for the week
ending March 31, according to the International Council of Shopping
Centers (ICSC) and Goldman Sachs’ Weekly Chain Store Sales Index. In
addition to the solid weekly increase, the pace of retail sales on a
year-over-year basis also finished on a strong note as they rose sharply
by 4.2%.
“March finished on a strong note as the earlier Easter holiday
(April 8, 2012 vs. April 24, 2011) gave consumers an incentive to shop
for holiday-related items, as well as, helped to strengthen seasonal
demand,” said Michael Niemira, ICSC vice president of research and chief
economist. “For March, ICSC expects that comp-store sales will increase
between 3.0% to 5.0% for the industry when retailers report their
monthly sales results on Thursday, April 5, 2012,” Niemira added.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
