Retail Sales Higher Than a Year Ago

Washington, DC, May 28, 2008--Retail sales advanced on a year-over-year basis according to both the International Council of Shopping Centers (ICSC) and Johnson Redbook retail sales in the week ending May 25.

The organizations showed 1.5% and 1.7% increases, respectively.

On a week-over-week basis, sales were flat in the ICSC report following a 0.4 percent decline in the previous week's study.

The ICSC survey examines 60 retail chain stores in the U.S. excluding restaurants and vehicle sales.

The Redbook report, which measures 9,000 retail units, has shown a 1.9 percent advance in May compared to April.

"Sales performance in the third week (of May) was not significantly different from the second," the Redbook report said. "Some retailers said the pace of sales was uneven in the beginning of the week but picking up as we approached the Memorial Day weekend... Promotional and competitive prices also helped sales, especially among moderately prices sectors."