Chicago National Retail Sales Estimate reported that year-over-year retail sales increased 2.7% for the week ending March 27, while sales slipped 1.0% versus the previous week ending March 20.
Year-over-year sales increased for the seventh straight week as retailers continue to gain momentum as the extended Easter weekend approaches.
On a weekly level, sales slipped as the cooler weather experienced throughout most of the country slowed spring purchases.
“With warmer weather expected, spring breaks continuing and Easter weekend falling this week, we anticipate both year-over-year and week-over-week spending levels will be strong,” said Bill Martin, co-founder of ShopperTrak. “And while we typically see a bit of a lull after Easter, if the favorable weather remains next week we could see some continued strength as spring merchandise rapidly moves.”