RAPAPORT... U.S. chain-store sales rose 4.2 percent year on year during this past week, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. ICSC determined that the positive results were a reflection of easy year-over-year comparisons, given the impact of the recession last year, as well as of the hot weather that drove consumers into air-conditioned malls and shopping centers. On a week-to-week basis, chain-store sales increased by 1.4 percent. 

"Retailers experienced a decent spurt in sales this past week following last week's decline," said Michael Niemira, ICSC's director of research and chief economist.  "However, over the last two weeks, the seasonally adjusted sales performance was relatively flat."

For the month of July, ICSC maintains that chain-store sales will rise in the range of 3 percent to 4 percent year on year, whereas sales dropped 5 percent one year ago.

LH