|
RAPAPORT... U.S. chain-store sales rose 2.7 percent year on year during the month of April, which was in line with expectations, according to the International Council of Shopping Centers (ICSC). "April's pickup in sales is encouraging,” said Michael P. Niemira, ICSC's vice president of research and chief economist. “It is most likely being boosted by a stronger household wealth effect from higher home and stock market prices. Although it was an improvement of recent months, the pace was still dampened by adverse seasonal weather. However, it is encouraging that sales still performed well despite this weather drag.” For May, ICSC research anticipates that comparable-store sales will increase between 2 percent and 3 percent as pent-up demand continues to trigger more seasonal spending.
|