U.S. chain-store sales rose 2.7 percent year on year this past week, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. However, the weekly change in comparable-store sales slipped 0.5 percent for the week that ended on March 24.
”During this past week business appeared to be softer at department and apparel stores, but, discounters seemingly picked up, thus providing mixed performance for the industry,” said Michael Niemira, ICSC’s vice president of research and chief economist. ”Heading into the last week of the fiscal month, the industry will likely see a stronger pick-up in apparel demand with the early arrival of Easter, April 8 compared with April 24, 2011.”
ICSC Research expects that same-store sales will increase 3 percent to 5 percent for the month of March.