Text: US ICSC-GS Wkly Store Sales +1.4% in July 17 Week

WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:

After last week’s sales decline retailers saw the sales trend
reverse itself as a result of easy comparisons and hot weather which
drove consumers indoors as a way to avoid the heat. According to the
ICSC and Goldman Sachs Weekly Chain Store Sales Snapshot weekly chain
store sales increased by 1.4 percent overall for the week ending July
17, 2010. On a year-over-year basis, the sales index also improved and
rose by 4.2 percent the strongest since May 8, 2010 (+4.3%).

“Retailers experienced a decent spurt in sales this past week
following last week’s decline,” said Michael Niemira, ICSC director of
research and chief economist. “However, over the last two weeks, the
seasonally-adjusted sales performance was relatively flat. For the
month, ICSC Research expects July sales to be up between 3.0 to 4.0
percent compared with a hefty 5.0 percent decline in July 2009,” Niemira
added.

** Market News International Washington Bureau: 202-371-2121 **

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