Chain Store Sales Continue Uptrend

New York, NY, July 13, 2010--Weekly chain store sales in the U.S. rose 3.2% this past week compared with one year ago, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs.

But following two consecutive weeks of single-digit increases based upon week-to-week changes, the comparable sales figure fell by 1.5%.

Michael Niemira, ICSC director of research and chief economist, said that retail sales were mixed as the seasonally-adjusted year-over-year pace continued to rise.

For July, ICSC expects chain-store sales to increase 3-4%, which would still not be strong enough to balance the 5% decline recorded in July 2009.