Chain Store Sales Off 0.1% Last Week

New York, NY, June 19, 2007—Chain store sales decreased 0.1% in the week ended June 16 from its level in the week before, according to the International Council of Shopping Centers-UBS Retail Chain Store Sales Index slipped. The results followed a 1% increase in the prior week.

Michael Niemira, chief economist at ICSC said, "The roller-coaster pattern of spending continued for the ninth consecutive week". "Although warmer weather and Father's Day were present, consumers seemingly were little motivated to spend. We continue to hold to our monthly expectation that sales will grow modestly by approximately 2% for June."

On the year, chain store sales were up 1.9% in the week ended June 16 compared with a rise of 2.1% in the prior week.