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Weekly sales rise 4.3%


New York City A survey released Tuesday by the International Council of Shopping Centers and Goldman Sachs said that chain-store sales for the week ended May 8 rose 4.3% from the year-earlier period.

On a week-over-week basis, sales inched up 0.1%.

"Sales edged up during the first week of the May fiscal month as warm weather in the South and East helped to drive seasonal demands, as well as Mother's Day acting as a catalyst for traffic," said Michael Niemira, ICSC's chief economist.

Niemira added that the pace of consumer demand continues to be healthy; an ICSC-Goldman Sachs customer tracking survey found strong year-over-year traffic at apparel-specialty stores, discounters and department stores, with the pace a little softer for department stores than in previous weeks.

Niemira said he anticipates May sales to rise about 3.5%.

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