Weekly Chain Store Sales Up 4.6% Vs. Year Ago

New York, NY, March 27, 2007--Chain store sales rose 4.6% for the week ended March 24, verses the year-ago period, which was the strongest gain since January 27, according to a survey released Tuesday by the International Council of Shopping Centers and UBS Securities.

On a week-over-week basis, sales rose 0.2%. "Last week provided customers with the right mix of weather and promotions which spurred customer traffic and sales," said Michael Niemira, ICSC's chief economist. "To a large degree, the dramatic change in weather helped retailers catch-up from the slow start earlier in the month." ICSC still expects March's reported sales to grow by 4% to 5%