Weekly Chain Store Sales Off

Washington, DC, May 22, 2007--Chain store sales were off 1.5% in the week ended May 19 verses the prior week, according to the International Council of Shopping Centers and UBS Securities.

On a year-over-year basis, retail chains' same-store sales were up 1.9%.

"Consumers faced strong headwinds over the last week, with cooler-than-normal weather cutting into seasonal demand and record-high gasoline prices paring discretionary purchasing power," said Mike Niemira, ICSC's chief economist.