New York, NY, April 19--Chain store retail sales rose in the latest week, as retailers saw an increase in demand for seasonal apparel, a retail report said on Tuesday.
Sales rose 1.0 percent in the week ended April 16, compared with a 0.3 percent increase 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 held steady at a 3.9 percent after a 3.9 percent rise the preceding week.
"A bout of mild seasonal weather combined with an 'easy' comparison (due to the Easter holiday in the 2004 base period) helped to lift the unadjusted year-over-year sales pace for the week," said Michael Niemira, ICSC's chief economist and director of research.
"However, there were lots of crosscurrents beneath the surface which caused the overall sales pace to remain unchanged. For April, we continue to expect comp-store sales will grow by about 2.0 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.
