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U.S. Chain-Store Sales +2%
Aug 7, 2012 8:11 AM
By Avi Krawitz
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RAPAPORT... U.S. chain-store sales rose 2.4 percent year on year for the week that ended on August 4, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. However, on a week-to-week basis, comparable-store sales were flat.
“Consumers were not in much of a shopping mood during the first week of the August fiscal month,” said Michael Niemira, ICSC's vice president of research and chief economist. “However, as the reality of the new school year soon beginning for many students sinks in, ICSC expects back-to-school spending to accelerate.”
ICSC Research anticipates that comparable-store sales will increase by between 4 percent and 5 percent overall in August, driven by students’ back-to-school buying and promotional activity for luxury merchandise.
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Tags:
Avi Krawitz, Back-to-school, chain-stores, Jewelry, luxury, Rapaport, retail
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