Strongest Year-Over Year Pace Since Dec. 2011
NEW YORK, 2014-7-2 — /EPR Retail News/ — The International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index rose by a solid 1.0% in the latest week (ending June 28) over the previous week. On a year-over-year basis sales increased even more rapidly posting a 4.6% increase – the strongest y-o-y pace since December 31, 2011.
“Business was up sharply for most segments, especially at department stores, apparel stores, discounters and wholesale clubs,” noted Michael Niemira, ICSC research consultant. “Gasoline prices – which impact consumer discretionary purchasing power – stayed flat, providing consumers the ability to spend their money elsewhere,” he added.
June 2014 expectations: It seems that after a winter that saw very adverse weather conditions in much of the country, the consumer unleashed some pent up demand in April and May. For June, ICSC Research expects sales will continue to post solid figures, increasing by 3.5% over the previous year. Fiscal month sales will be reported on July 10.
Week Ending Index 1977=100 Year/Year Change Weekly Change
28-June-14 574.1 4.6% 1.0%
21-June-14 568.2 4.1% 2.0%
14-June-14 557.0 3.1% 0.4%
07-June-14 554.6 3.0% -2.8%
Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 67,000 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