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RAPAPORT... U.S. chain-store sales rose 1.7 percent year on year for the week that ended on March 22, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. However, comparable-store sales dropped 1.5 percent from the previous week. "Sales on a year over year basis were a tad stronger though segment demand was mixed across retail categories,” said Michael Niemira, ICSC's vice president of research and chief economist. “According to the ICSC-GS consumers tracking survey, dollar and electronics stores saw a strong improvement while discounters and apparel stores improved on a year-over-year basis. However, business was softer than the same week of the prior year for grocery, drug, department, furniture stores and wholesale clubs.” ICSC Research anticipates that chain-store sales will increase 3 percent in March. 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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