Report: Weekly Retail Sales Rise 4.0%

Chicago ShopperTrak RCT Corp.’s National Retail Sales Estimate (NRSE) announced that year-over-year retail sales for the week ending Aug. 30 rose 4.0%, while week-over-week sales fell 3.7% compared to the previous week ending Aug. 23.

Week-over-week retail sales posted a significant decrease last week reflecting the end of back-to-school shopping.

The decrease also reflected sales promotions to drive consumer spending.

Conversely, the strong year-over-year gain showed that shoppers responded positively to various Labor Day sales and promotions, posting the 28th yearly increase in 36 possible weeks so far in 2008, according to the report.