New York, March 15--Chain store retail sales rose 0.6 percent in the week ended March 12, compared with a 0.4 percent decline 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 3.4 percent after a 3.3 percent rise the preceding week.
"This past week, retail sales rebounded as consumers prepare for Easter and spring," said Michael Niemira, ICSC's chief economist and director of research."
"Despite the calendar shift of Easter and the continuation of winter weather for most of the country, we remain optimistic that March 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.
