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Weekly sales rise 2.9%


New York City A report released Tuesday by the International Council of Shopping Centers and Goldman Sachs found that chain-store sales for the week ended June 12 rose 2.9% from the year-earlier period.

On a week-over-week basis, sales decreased 0.7%.

"Sales dipped in the latest week from the prior week, though the year-over-year momentum continued only slightly under the prior week's pace," said Michael Niemira, ICSC's chief economist. "The weekly pace appears to be a bit more volatile than in recent weeks, but the month's easy comparisons will lift the year-over-year pace throughout the month."

ICSC forecast June sales to increase by 3% to 4%.

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