Chain Store Sales Increase Over Last Year

New York, NY, May 10, 2011 --  Chain-store sales for the week ended May 7 rose 2.7% from the same time last year, according to the International Council of Shopping Centers and Goldman Sachs.

On a week-over-week basis, sales were flat.

"Mother's Day sales helped customer traffic flows, but consumers were also exploring other more discretionary spending, such as at furniture and electronic stores," said Michael Niemira, ICSC's chief economist.

"After two months of spending volatility from week to week, May is likely to return to a more trend-like pace." He forecast May sales to rise between 3% to 3.5%.