WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
Retail sales rose for the fifth consecutive week despite facing a
post-Easter seasonal drag. Overall sales improved by 0.2% on a weekly
basis according to the ICSC-Goldman Sachs weekly sales index for the
period ending April 17. On a year-over-year basis sales remained strong
(+4.6%).
“Helped by seasonably-warm temperatures for the week, customer
trafficespecially at department and apparel-specialty storesimproved
over the same week of the prior year,” said Michael Niemira, ICSC
director of research and chief economist. “However, with about 4-5
percentage points of March’s monthly sales lift due to the Easter
calendar shift, the April ‘echo’ will depress store sales somewhat. As a
result ICSC Research continues to expect that April sales will be flat
to down 3%,” Niemira added.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$]