Press Release:
NEW YORK, July 17, 2012 – Even with the continuing warm weather, which helped to drive consumers indoors, weekly retail sales were moderate and remained positive for the second fiscal week of July. Overall, for the week ending July 14, weekly retail sales were flat (0.0%), according to the International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index.
On a year-over-year basis, retail sales also remained positive but soften a bit to 2.6% over last year.
“As Mother Nature continued to deliver a heat wave across the nation, consumers got a jump start on their back-to-school shopping as a third of households reported in the ICSC-Goldman Sachs weekly consumer tracking survey that they have already begun this annual shopping ritual,” said Michael Niemira, ICSC vice president of research and chief economist. “Looking forward, the retail industry should continue to see moderate increases in sales as the intensity of back-to-school shopping will gain strength,” Niemira added.
For the month of July, ICSC Research anticipates that comp-store sales will increase by between 1.0% and 1.5% overall, including drug store sales and 3.0% and 3.5% excluding drug stores.
Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 55,000 members in over 90 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials. As the global industry trade association, ICSC links with more than 25 national and regional shopping center councils throughout the world.
