New York City The International Council of Shopping Centers and Goldman Sachs report for chain-store sales for the week ended June 20 showed a drop of 0.9% from the year-ago period.
However, on a week-over-week basis, sales were unchanged.
"June sales continued to face strong headwinds from the economy's recessionary forces to Mother Nature," said Michael Niemira, ICSC's chief economist. "On the weather front, nationwide precipitation was 93% above a year earlier and 43% above its long-term average-according to Weather Trends International. The good news on the weather front is that the weeks leading up to Independence Day will be warmer and drier than last year, which should provide a late month spur to seasonal goods."
ICSC forecast June sales, excluding Wal-Mart Stores, will be down by about 5%. Wal-Mart has stopped reporting its monthly sales results.