New York, NY, July 11, 2006--Weekly chain store sales posted their first increase in four weeks on a slight uptick of 0.2 percent, an industry group said Tuesday.
The International Council of Shopping Centers and UBS Securities LLC also said Tuesday that, on a year-over-year basis, overall demand also increased to 3 percent from the same week last year.
"Retailers finally had something to celebrate this past week as customers took advantage of their Fourth of July sales and shopped," said Michael P. Niemira, ICSC's chief economist and director of research.
"As the month unfolds, back-to-school will become an increasingly more important story for retailers as the first wave of shopping begins. For the month comparable-store sales are likely to increase by 3 percent to 3.5 percent, on a year-over-year basis," Niemira added.
