The East Coast heat wave through May 28, boosted demand for seasonal goods and helped offset cool weather in the West to drive up same-store sales by 0.4 percent. But the gain wasn’t enough to hold up the year-on-year rate which slipped slightly to plus 2.8 percent. ICSC-Goldman sees sales rising about three percent in what would be a soft result reflecting the month’s mostly unseasonable weather and uneven economic performance, for the May-to-April comparison.
This weekly measure of comparable store sales at major retail chains, published by the International Council of Shopping Centers, is related to the general merchandise portion of retail sales. It accounts for roughly 10 percent of total retail sales.
Released on 6/1/2011 7:45:00 AM For wk5/28, 2011
Prior Actual
Store Sales – W/W change -1.0 % 0.4 %
Store Sales – Y/Y 3.1 % 2.8 %