New York, June 6, 2006--Chain store retail sales rose in the latest week, as warm weather spurred demand for seasonal items, a retail report said on Tuesday.
Sales edged up 0.1 percent percent in the week ended June 3 from the prior week, versus a 1 percent decline the previous week, according to a report jointly produced by the International Council of Shopping Centers and UBS Securities LLC.
Compared with the same week a year ago, sales climbed 3.4 percent percent, following a 3.6 percent rise in the prior week.
"Weather was quite positive for igniting seasonal goods such as summer apparel, beer and other beverages, suncare products, patio furniture and other seasonal items," said Michael P. Niemira, ICSC's chief economist and director of research, in a the weekly report.
For June, chain-store sales growth is expected to to slow to 2.5 percent to 3.0 percent after posting a 4.5 percent increase in May. That was the strongest performance for a May since 2004 during which sales grew by 5.7 percent,
Niemira expects slower sales on forecast wet and stormy weather keeping consumers away from stores.
The ICSC-UBS Weekly Chain Store Sales Snapshot is compiled from a group of major discount, department and chain stores across the country that report their weekly results.
