Retailers’ weekly sales rise 3.1%: survey
NEW YORK (MarketWatch) — Chain-store sales for the week ended May 21 rose 3.1% from the year-earlier period, according to a survey released Tuesday by the International Council of Shopping Centers and Goldman Sachs. On a week-over-week basis, sales fell 1%. “The wettest comparable week in ten years-combined with cooler temperatures-negatively impacted spending on apparel and other seasonal merchandise,” said Michael Niemira, ICSC’s chief economist. “As the industry heads into the last fiscal week of May, seasonal items may see a bump as consumers gear up for Memorial Day weekend and better weather seemingly is expected nationwide.” He forecast May sales to rise between 3% and 3.5%.
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