New York, NY, March 8--Chain store retail sales fell 0.4 percent in the week ended March 5, compared with a 1.5 percent increase the previous week, the International Council of Shopping Centers and UBS said in a joint report.
Compared with the same week a year ago, sales increased to a 3.3 percent after a 3.3 percent rise the preceding week.
"This past week, retail sales pulled back a bit as sales performance was mixed throughout the country," said Michael Niemira, ICSC's chief economist and director of research.
"With Easter two weeks earlier than last year, retailers will get a lift in the year-over-year pace of March sales at the expense of April. For March, we expect sales will increase by 3.5 percent to 4.0 percent," Niemira added.
The ICSC-UBS Weekly Chain Store Sales Snapshot is compiled from a group of major discount, department and chain stores across the country that report their weekly results.
