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U.S. Chain-Store Sales +3%

Retail Sales Couldn't be Better

Mar 15, 2011 7:45 AM   By Jeff Miller
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RAPAPORT... The news just could not be better at retail chains in the U.S., according to the International Council of Shopping Centers (ICSC).  Weekly retail sales for March continue to "roar like a lion" as retail sales climbed 3.1 percent this past week as compared with one year ago, stated ICSC and Goldman Sachs.  Overall, for the week ending March 12, weekly retail sales rose by 0.1 percent.

''Customer traffic was relatively steady over the last week—based on the ICSC-Goldman Sachs consumer tracking surveys--but compositionally demand shifted towards drug stores, dollar stores and wholesale clubs,” said Michael Niemira, ICSC vice president of research and chief economist.  “The latest week’s consumer spending shift seemingly was more value driven and some of the discretionary segments, such as apparel and department stores were somewhat weaker,” Niemira added.
 

 

Tags: growth, Jeff Miller, retail, sales
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