Chain Store Sales Higher Last Week

New York, NY, July 27, 2010--U.S. chain-store sales rose 3.8% last past week compared with one year ago, according to the International Council of Shopping Centers and Goldman Sachs.

Little change in comparable store sales was recorded from the prior week though. ICSC expects comparable store sales at the chains to register a 3-4% increase.

"Easy comparisons continue to lift sales—-though not as much as the prior week—-while the abnormally hot weather helped drive some customer traffic in some regions," said Michael Niemira, ICSC director of research and chief economist.

"The retail industry is in the transition period between summer clearance and back-to-school with back-to-school really kicking in during early August as a wave of states have their state sales tax holidays to help consumers as they head back into school."