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RAPAPORT... U.S. chain-store sales increased 1.9 percent year on year for the week that ended on April 19, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Comparable-store sales improved just 0.4 percent from the previous week. “Sales during the pre-Easter week posted a moderate gain, with retailers stepping up their promotions, but Mother Nature refused to cooperate as another bout of unseasonably cool weather hit much of the country,” said Michael Niemira, ICSC's vice president of research and chief economist. “Even so, the gain marks the second straight solid performance from a yearly standpoint; good news for when the weather finally turns better.” ICSC Research anticipates that chain-store sales will increase between 3.5 percent and 4 percent. The weekly chain-store sales snapshot is produced by ICSC and Goldman Sachs to measure U.S. nominal same-store, or comparable-store, sales while excluding restaurant and vehicle demand. The weekly sales index is presented on an adjusted basis to account for normal seasonal and other data anomalies.
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