U.S. Chain Stores Increase Sales in August, ICSC Reports
New York City U.S. chain stores’ same-store sales for August climbed by 1.7%, according to the International Council of Shopping Centers.
The increase is based on a comparison of same-store sales on a year-over-year basis.
“August’s slower than trend sales pace was touched by weakness in the economy, cold and wet weather, a later start to the school year and lean inventories,” said Michael P. Niemira, ICSC’s chief economist and director of research. “For the industry as a whole, we expect September sales to post an increase of about 2%.”
The group measures same-store sales among 75 retail chain stores, excluding restaurants and car sales.