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Report: Weekly chain-store sales edge up


New York City The International Council of Shopping Centers and Goldman Sachs said Tuesday that chain-store sales for the week ending Aug. 8 edged upward 0.4% from the year-ago period.

On a week-over-week basis, sales were flat.

“Sales were helped by the confluence of the later back-to-school starts and the 10 states that had later and non-comparable state sales tax holiday periods compared with last year," said Michael Niemira, ICSC's chief economist.

"The sales performance should improve as comparisons begin to get easier and the economy is showing signs of recovery,” he said.

ICSC forecasts August comp sales to decline 3.5% to 4%.

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