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Log In / Register | Sep 1, 2014

Mother Nature Didn’t Chill Last Week’s Retail Sales

NEW YORK -- The International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index rose by 0.4 percent on a week-over-week basis ending April 19. Sales on a year-over-year basis posted a solid 1.9 percent increase. This increase comes on the heels of last week's 2.3% gain which was the strongest reading in the past two months.

"Sales during the pre-Easter week posted a moderate gain, with retailers stepping up their promotions, but Mother Nature refused to cooperate as another bout of unseasonably cool weather hit much of the country," noted Michael Niemira, ICSC vice president of research and chief economist. "Even so, the gain marks the second straight solid performance from a yearly standpoint, good news for when the weather finally turns," he added.

For April, ICSC Research forecasts that monthly comparable-store sales will increase from 3.5 percent to 4.0 percent. This takes into account the potential of bad weather dragging down sales. It appears the weather, and shopping traffic, will be affected by a mild spring that will be slow to roll in, but sales will receive a boost from Easter shoppers.

Week Ending

Index 1977=100 Year/Year Change Weekly Change
19-April-14 572.0 1.9% 0.4%
12-April-14 569.9 2.3% -0.3%

05-April-14

571.5

1.5%

1.5%

29-March-14

562.9

0.6%

3.6%

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