The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index slipped 1.6% in the week ended Saturday from the previous week on a seasonally adjusted, comparable-store basis.
"The industry's sales performance during this past week essentially reversed last week's positive sales jump," said Michael Niemira, ICSC vice president of research and chief economist."However, despite that volatility, business was stronger in a number of key segments--drug, department, discount wholesale, electronics and specialty stores--compared with the same week of the prior year."
For September, ICSC Research anticipates that monthly sales will to grow by about 4%--about in line with the 3.6% pace for August.
On a year-on-year basis, the weekly reading was up 3.2%.
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