Chain Store Sales Up 3.4% Over Last Year

New York, NY, March 9, 2010--Chain-store sales for the week ended March 6 rose 3.4% from the year-earlier period, according to the International Council of Shopping Centers and Goldman Sachs.

It was the strongest gain since last July.

On a week-over-week basis, sales climbed 2.9%.

"To paraphrase the old saw, March sales started off like a lion as better weather got consumers motivated about spring-related merchandise," said Michael Niemira, ICSC's chief economist.

Given the strong start, Niemara raised his March comparable sales forecast to an increase of 2.5% to 3.5%. Last week, he had forecast a rise of about 2.5%.