RAPAPORT... U.S. chain-store sales rose 3.8 percent this past week compared with one year ago, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. On a week-to-week basis, comparable-store sales were essentially flat. ICSC expects comparable-store sales at the chains to register a 3 percent to 4 percent increase.

"Easy comparisons continue to lift sales — though not as much as the prior week — while the abnormally hot weather helped drive some customer traffic in some regions," said Michael Niemira, ICSC's director of research and chief economist.  "The retail industry is in the transition period between summer clearance and back to school, with back to school really kicking in during early August as a wave of states have their state sales tax holidays to help consumers as they head back into school."

LH