Chain Store Sales Higher Than Last Year

New York, NY, July 26, 2011 -- U.S. chain-store weekly sales rose 4.2% over last year, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs.

Overall for the week ending July 23, weekly retail sales were flat.

"Over the past week unseasonably warm weather helped to keep the positive retail sales momentum going," said Michael Niemira, ICSC's vice president of research and chief economist.

"As retailers close out the fiscal month of July, overall sales results were positive for the entire month as summer clearance and warm weather drove sales."

ICSC expects July chain-store sales, excluding the impact of fuel sales, will likely increase between  3.5% to 4.5%.