In Spite of Drag from Mother Nature
NEW YORK, 2014-4-22 — /EPR Retail News/ — The International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index rose by 0.4% on a week-over-week basis ending April 19. Sales on a year-over-year basis posted a solid 1.9% increase. This increase comes on the heels of last week’s 2.3% gain which was the strongest reading in the past two months.
“Sales during the pre-Easter week posted a moderate gain, with retailers stepping up their promotions, but Mother Nature refused to cooperate as another bout of unseasonably cool weather hit much of the country,” noted Michael Niemira, ICSC vice president of research and chief economist. “Even so, the gain marks the second straight solid performance from a yearly standpoint, good news for when the weather finally turns,” he added.
For April, ICSC Research forecasts that monthly comparable-store sales will increase by 3.5% to 4.0%. This is taking into account the potential for a weather drag on sales as mild spring weather appears will be slow to roll in, but accounts for the lift from the later Easter.
Week Ending Index 1977=100 Year/Year Change Weekly Change
19-April-14 572.0 1.9% 0.4%
12-April-14 569.9 2.3% -0.3%
05-April-14 571.5 1.5% 1.5%
29-March-14 562.9 0.6% 3.6%
Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 63,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials. For more information, visit www.icsc.org.
Contact: Jesse Tron