Retail Sales Higher Than a Year Ago

New York, NY, June 3, 2008--Retail sales increased 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 31.

They showed 1.2 percent and 2.0 percent increases respectively.

However, sales fell 0.8 percent on a week-over-week basis in the ICSC report following an unchanged reading in the previous week's study.

"Seasonally cool weather," slowed sales, the report said, as well as high gas prices.

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

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