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RAPAPORT... U.S. chain-store sales rose 1.5 percent year on year for the week that ended on April 5, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Comparable-store sales also rose 1.5 percent from the previous week.
“Weekly sales -- adjusted for the shift in Easter -- rose this past week as customer foot traffic and spending appeared to have improved in the latter part of the month,” said Michael Niemira, ICSC's vice president of research and chief economist. “With the 2014 celebration Easter (April 20) later than in 2013, the holiday spending ramp-up will likely be seen over the upcoming two weeks."
ICSC Research anticipates that chain-store sales will have increased 3 percent in March when data collection has completed on April 10. 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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