Chicago ShopperTrak’s National Retail Sales Estimate reported that year-over-year retail sales increased 5.5% for the week ending June 12, while sales fell 2.8% versus the previous week ending June 5.
As anticipated, weekly sales slipped last week as retailers experienced the annual spending lull following Memorial Day week. However, year-over-year sales once again showed a strong increase as shoppers continue to spend more during less visits to malls as compared with 2009.
ShopperTrak also reported that to-date sales for the month of June have increased 6.7%, while year-over-year sales have risen 19 out of a possible 24 weeks so far in 2010.
“Both the slower weekly and strong yearly performance were expected last week as the holiday came to a close and the consumer still proves willing to spend in malls and retail outlets so far this year,” said Bill Martin, co-founder of ShopperTrak. “Father’s Day sales promotions should boost drive both sales and traffic this week, but our historical data suggests the sales increase won’t be nearly as strong as those experienced for Mother’s Day.”
Looking further ahead, Martin added that sales levels are expected to slow a bit following Father’s Day and then should begin climbing again as July 4 approaches, although typically this holiday is one of the weakest in generating strong sales level.