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RAPAPORT... U.S. chain-store sales rose 3.4 percent year on year for the week that ended on August 25, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. On a week-to-week basis, comparable-store sales rose 0.5 percent as families purchased supplies for a new school year. “A bout of cooler weather nationally and more school systems beginning their new school year gave consumers the motivation they needed to spend, helping to lift overall back-to-school shopping and weekly sales this past week,” said Michael Niemira, ICSC's vice president of research and chief economist. ICSC Research anticipates that comparable-store sales will increase by between 3.5 percent and 4.5 percent in August. 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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