New York, NY, May 16, 2006--Chain store sales were unchanged in the latest week as spending ahead of Mother's Day offset cool, wet weather and rising gasoline prices, according to a report on Tuesday.
Sales were unchanged in the week ended May 13, after falling 0.4 percent in the previous week, according to the report produced by the International Council of Shopping Centers and UBS Securities LLC.
The ICSC said sales accelerated to 4.2 percent last week versus the same week in 2005. In the previous week, sales were up 3.1 percent versus the same week a year earlier.
"Clearly, mothers still count as a catalyst for consumer spending despite a bout of cooler and wetter than normal weather as well as rising energy prices," said Michael P. Niemira, ICSC's chief economist and director of research.
For May, unadjusted comparable-store sales are expected to grow by between 3.0 percent and 3.5 percent. Retail sales will likely retreat trend levels after April's spike due to milder than normal weather and a later Easter than 2005, International Council of Shopping Centers and UBS Securities LLC said.
