Chain Store Sales Higher Than a Year Ago

New York, NY, March 29, 2011 -- U.S. chain-store sales increased 2.6% last week compared with one year ago, according to the International Council of Shopping Centers and Goldman Sachs.

On a week-to-week comparison, retail sales were flat. ICSC concluded that prolonged wintery temperatures in some major retail centers have also kept sales very soft for weather-sensitive  and seasonal goods.

"Overall March has been a tough month for retailers as they have had to faced generally more adverse factors— lingering winter weather across the country, higher gasoline prices and tougher Easter-sales comparisons due to the later April this year which has contributed to the softer pace of sales throughout the month," said Michael Niemira, ICSC vice president of research and chief economist.