Chain Store Sales Up Most Since April 2010

New York, NY, July 12, 2011 -- Chain-store sales for the week ended July 9 rose 5.5% from the year-earlier period, the biggest percentage increase since April 2010, according to the International Council of Shopping Centers and Goldman Sachs.

On a week-over-week basis, sales rose 0.4%, the third straight gain.

"The healthy sales momentum continued from June into the July fiscal month, helped by hot weather," said Michael Niemira, ICSC's chief economist.

ICSC forecast July sales to increase between 4.5% and 5.5%.