NEW YORK – Weekly chain store sales fell 1.3% in the week ending August 14, the third consecutive week retailers experienced a sales decline despite consumer traffic remaining steady, according to the ICSC and Goldman Sachs Weekly Chain Store Sales Index.
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On a year-over-year basis, sales are up 3.3%.
"Although customer traffic is holding up, the pricing environment has weakened and has constricted reported sales gains--especially over the last week," said Michael Niemira, ICSC director of research and chief economist. "ICSC Research continues to expect monthly sales will grow by about 3.0 percent above year-ago levels for the fiscal month of August," Niemira added.
