U.S. Chain-Store Sales +4% in March

MallU.S. chain-store sales in March rose 4.1 percent year on year, according to the International Council of Shopping Centers (ICSC). The pace of growth was inline with ICSC’s expectations of 3 percent to 5 percent.

Michael P. Niemira, ICSC’s vice president of research and chief economist, said, “There were three contributing factors that positively affected sales for this month: Abnormally warm temperatures helped seasonal apparel demand, an earlier Easter than last year (April 8, 2012 vs. April 28, 2012) was advantageous for clothing stores, and an improving economy continued to bolster overall consumer spending.”

ICSC expects that April’s comparable-store sales will improve 3 percent to 4 percent year on year.

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