New York, NY, July 25, 2006--Chain store sales rose in the latest week as shopping ahead of the school term boosted activity, according to a report on Tuesday.
Sales were up 0.2 percent in the week ended July 22 after slipping 0.6 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 rose 1.9 percent last week versus the same week in 2005. In the previous week, sales rose 2.0 percent versus the same week a year earlier.
"Weekly chain store sales recovered about a third of the prior week's dip as the traditional beginning of back-to-school shopping took effect," wrote Michael P. Niemira, ICSC's chief economist and director of research.
For July, unadjusted comparable-store sales are expected to rise by about 2.5 percent for the month, on a year-over-year basis, he added.
