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RAPAPORT... U.S. chain-store sales rose 1.8 percent year on year for the week that ended on March 9, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. On a week-to-week basis, comparable-store sales improved 0.7 percent. “The fiscal month of March began on a mixed note with steady results on a year-over-year basis and a solid increase over the prior week,” said Michael Niemira, ICSC's vice president of research and chief economist. “The mixed performance was tied to uneven underlying demand —stronger grocery and apparel stores business, but weaker discount business— and another bout of adverse weather in the Midwest.” ISCS's guidance for the month of March reveals a comparable-store sales increase of 3 percent to 4 percent, primarily due to an early Easter, which falls on March 31. 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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