Chain-Store Sales Continue To Increase

New York, NY, March 8, 2011 -- Chain-store sales for the week ended March 5 rose 2.6% from the previous year, according to the International Council of Shopping Centers and Goldman Sachs.

On a week-over-week basis, sales climbed 2.3%.

"Despite the consumers' worry about higher fuel prices, which will likely weigh on the month's overall sales, March came in like a lion for retailers this past week," said Michael Niemira, ICSC's chief economist.

"The offset is coming from an increase in employment and stronger income on the consumer front which is aiding in the overall uptick in retail sales."

ICSC sees March sales to be flat to up 2% as Easter falling about three weeks later this year will dampen March sales.