Tuesday, May 24, 2011

ICSC showing temporary slowdown

The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index dropped 1% in the week ended Saturday from the week before on a seasonally adjusted, comparable-store basis.

"The wettest comparable week in 10 years--combined with cooler temperatures--negatively impacted spending on apparel and other seasonal merchandise," ICSC Chief Economist Michael Niemira said, adding seasonal items may see a bump as consumers gear up for Memorial Day weekend.

On a year-on-year basis, the reading rose 3.1%, easing slightly from the growth posted in the prior week.
For May, ICSC still expects monthly industry retail sales will increase by 3% to 3.5%.

                  Week Ended Index 1977=100   Yr/Yr Change   Weekly Change

21-May-11 512.0                                        3.1%                 -1.0%

14-May-11 517.0                                        3.2%                 -2.0%

07-May-11 527.6                                        2.7%                   0.0%

30-April-11 527.4                                        2.8%                 -0.8%

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