23 Aug BRIEF: US retailers see uneven sales
U.S. retailers continue to navigate choppy waters as consumers are displaying uneven shopping patterns, according to a leading national retail group.
The International Council of Shopping Centers reported that chain-store sales were down 1.9 percent for the week ended Aug. 17 compared with the previous week. It was the second straight weekly decline.
On a year-over-year basis, the sales pace slowed to a 2.2 percent gain. “Sales continued a choppy performance with the latest week’s weakness being driven by slower business for discounters and dollar stores in particular,” said Michael Niemira, ICSC vice president of research and chief economist. “On the other hand, sales were stronger for speciality stores, electronics stores and grocery stores.”
The council is forecasting that August sales will remain in the 4.5 to 5 percent growth range.