Report: Year-over-year weekly sales fall 5.8%

Chicago ShopperTrak’s National Retail Sales Estimate Tuesday reported that year-over-year GAFO retail sales declined 5.8% for the week ending Aug. 29, while sales fell 5.5% versus the previous week ending Aug. 22.

Although retailers offered attractive pricing throughout the 2009 back-to-school shopping period, cautious consumers still limited their spending to necessities, resulting in lower overall GAFO retail sales levels last week, and throughout the critical back-to-school season. Additionally, ShopperTrak’s data supports the findings of many economists who believe the majority of discretionary spending normally allotted for back-to-school items was most likely redirected on auto purchases during the government’s “Cash for Clunkers” program.

While final back-to-school traffic and sales data will be published next week, ShopperTrak says performance is in line with the 10.0% total U.S. foot traffic and 5.9% retail sales declines the company anticipated heading into the season.

“Typically, sales levels in the weeks following the back-to-school season decline before picking up in October for Columbus Day and Halloween,” said Bill Martin, co-founder of ShopperTrak. “But the retail industry will be watching in September to see how sharply those levels decline as the holiday shopping season draws near.”