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Weekly sales up 3.2%

3/30/2010

New York City A report released Tuesday by the International Council of Shopping Centers and Goldman Sachs said that chain-store sales for the week ended March 27 rose 3.2% from the year-earlier period.

On a week-over-week basis, sales edged up 0.6%.

"Sales posted a healthy gain during the past week but overall results were impacted by mixed influences with weather uneven across the nation," said Michael Niemira, ICSC's chief economist. "Easter-related and other seasonal spending strengthened as consumers continued to release some of their pent-up demand."

Niemira forecast March sales to rise 3% to 3.5%, helped by easy year-ago comparisons and a lift from the Easter shift in the calendar.

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