Chain Store Sales Flat Last Week

New York, NY, May 30, 2007--Chain store sales for the week ended May 26 were flat, verses the prior week, according to a survey released by the International Council of Shopping Centers and UBS Securities. Sales were up 2.9%, compared to the year-ago period.

"Once again, crosscurrents battered consumer spending," said Michael Niemira, chief economist for the ICSC. "Over the last week, weather was colder than last year in much of the country-except the Northeast and Southwest-but gas prices were a tad lower."

ICSC expects monthly sales to rise between 2% and 2.5%.