New York, NY, June 7--Chain store retail sales rose 0.4 percent in the week ended June 4, compared with a 1.0 percent decrease the previous week, according to the International Council of Shopping Centers and UBS joint report.
"For the first week of June, retail sales finally improved after slipping for three weeks," said Michael Niemira, ICSC's chief economist and director of research.
Compared with the same week a year ago, sales momentum also improved to a 3.3 percent increase after a 3.1 percent rise the preceding week.
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.
