Chain store sales crept up 0.4% in the week ended July 16, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday.
Year over year, the pace of retail sales slowed to 4.5% growth.
“Sales momentum continued this past week, even with the year-over-year pace slowing from last week’s strong uptick,” said Michael Niemira, ICSC vice president of research and chief economist. “According to the ICSC-Goldman Sachs weekly consumer channel tracking survey, discount business improved, in particular, over last week as consumers continued to be cautious in their spending.”
Meanwhile, retail sales jumped 3.8% in the week ended July 16, according to the Johnson Redbook Retail Sales Index.
For the month to date, July was up 4.6% compared to a year ago (target: a 4.4% rise).
Month-over-month sales fell 0.2% from June (target: a 0.4% decline).