Chain store sales decreased 1.0% in the week ended May 4, while year-over-year sales slowed to 2.4% growth, according to the weekly survey of comparable chain-store sales, by ICSC and Goldman Sachs, published Tuesday.
"There were lots of cross-currents over the past week with weather 'good' or 'bad' in different parts of the country, an uptick in gasoline prices, and improving high-end consumer confidence," said Michael Niemira, ICSC vice president of research and chief economist. "Overall, we expect that monthly sales results for April will be on track for about 2.0% gain (about 3.0% less drug stores) when retailers report their April sales on Thursday, May 9, 2013."
