Chain store sales stay slightly negative

New York City Weekly chain store sales in the United States remained slightly negative for the third consecutive week.

According to a report issued Tuesday by the International Council of Shopping Centers and Goldman Sachs, in the seven days ended July 25, weekly chain store sales dropped 0.5% from the same period in 2008.

The measure followed a decline of 0.3% July 18, and a drop of 0.7% July 11.

Measuring sales from week-to-week however, ICSC reported an increase in sales of 1.0% as retailers experienced a pickup in foot traffic from one year ago, according to Michael Niemira, ICSC chief economist. 

“As the industry heads into the last week of the month, ICSC Research continues to expect industry sales for July to be off about 5.5% with leaner clearance than last year hurting the reported sales pace," said Niemira.

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