Chain Stores Sales Rose 2.0% in Week

Chain store sales grew 2.0% in the week ended July 7, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday.

Year-over-year retail sales improved to a 3.0% increase.

"This past week featured a number of factors - extreme hot weather, Independence Day and vacations - all of which helped to spur sales of summer-related goods," said Michael Niemira, ICSC vice president of research and chief economist. "As positive as the results were, this first fiscal week of July is traditionally a quiet week relative to later in the month when back-to-school shopping kicks-in," Niemira added.

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