Chain store sales declined 1.5% in the week ended August 18, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday.

Year-over-year basis, retail sales were up 3.1%.

"Retail sales continue to be mixed with weekly sales growth slipping but yearly momentum relatively healthy," said Michael Niemira, ICSC vice president of research and chief economist. "Consumer traffic was a bit stronger over the past week, according to the ICSC-Goldman Sachs consumer tracking survey, as consumers were possibly enticed by the array of back-to-school retailer promotions from free haircuts to sweepstakes to win iPads," Niemira added.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.