WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
Retailers enjoyed another positive sales week as a result of
consumers “hopping” to finalize their last minute Easter shopping.
Overall, and being adjusted for seasonality, weekly retail sales
increased by 0.4 percent for the week ending April 23, according to the
ICSC-Goldman Sachs Weekly Chain Store Sales Index. On a year-over-year
basis, retail sales grew by 3.2 percent.
“Sales advanced ahead of Easter and because of consumers demand
for spring apparel, candy, food and other holiday items this past week,”
said Michael Niemira, ICSC vice president of research and chief
economist. “Unfortunately, with rising fuel prices and consumers
reporting more and more hardship as a result, the post-Easter lull may
be accentuated,” Niemira added.
For April, ICSC Research anticipates that due to the shift in the
date of Easter this year compared with last (April 4, 2010 vs. April 24,
2011) monthly retail sales should boom and increase to between 5.0 to
6.0 percent for the month.
** Market News International Washington Bureau: 202-371-2121 **
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