Chain Store Sales Surge In April

New York, NY, May 6, 2011 -- U.S. chain-store sales in April rose 8.5% over last year, according to the International Council of Shopping Centers.

The group had predicted an increase of between 5% and 6%. The shift in the date of Easter to April 24, versus April 4 in 2010, along with much higher prices for fuel propelled the increase by roughly two to three percentage points.

“Helping to drive sales has been the improving trend in employment growth, but rising fuel and food prices are cutting into discretionary spending power, which is likely to temper the trend pace of spending ahead,” said Michael P. Niemira, chief economist and director of research for ICSC.

ICSC Research anticipates a chain-store sales increase of 3% to 3.5% for the month of May.