New York, NY, August 8, 2006--Chain store sales for the week ended Aug. 5, sales slipped 0.2%. on a week-over-week basis, according to a survey from the International Council of Shopping Centers and UBS Securities LLC released on Tuesday.
Sales for the week were up 2.5%, compared to the year-ago period,
"It is surprising that there was not more of a lift over the last week," said Michael Niemira, ICSC's chief economist and director of research. "However, the crosscurrents between the regional state tax holidays, taking place in 10 states and the District of Columbia this past weekend, and the abnormally hot weather and high gasoline prices seemingly took a bite out of potential demand."
The ICSC forecast an August sales gain of about 3% to 3.5%
