New York, NY, August 15, 2006--Chain store retail sales held steady in the latest week despite some state sales tax holidays, a retail report said on Tuesday.
Sales were unchanged in the week to Aug. 12 compared with a decline of 0.2 percent 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 rose 2.6 percent, just above a 2.5 percent year-ago gain a week earlier.
"The week was relatively uneventful with sales unchanged from the prior week and little changed from the year-over-year pace of the prior week," said Michael P. Niemira, ICSC's chief economist and director of research.
"Despite some state sales tax holidays lingering on August 6 and the District of Columbia's tax holiday spanning the week, those impacts were diffused and negligible in the nationwide tally," Niemira said, adding "we continue to expect sales for August will increase by 3.0 percent to 3.5 percent."
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.
