Chain Store Sales Off Last Week

New York, NY, June 5, 2007--Chain store sales fell by 0.5% for the week ended June 2 from its level the week before, on a seasonally adjusted, comparable-store basis, according to tThe International Council of Shopping Centers-UBS Retail.

This result followed an unchanged level the prior week.

"The month as a whole showed some recovery after weakness in April, but the consumer environment continues to be somewhat unsettled," said Mike Niemira, chief economist at ICSC who compiles the index. "Thankfully, gasoline prices at the pump have receded a little in the past couple of weeks and the economic picture has brightened a bit, which points to better times ahead."

On the year, chain store sales were up 2.3% in the week ended June 2 compared with a rise of 2.9% in the prior week.