New York City, According to a retail report, U.S. chain store sales fell 0.8% for the week ending Aug. 6. Sales had risen 0.9% the previous week. The decrease marks the first since June 25. Analysts believe the decrease can be attributed to a slow start in fall clothing sales. Michael Niemira, the International Council of Shopping Centers’ (ICSC) chief economist and director of research, said, “During the past week seasonally hot weather pared demand for fall apparel.”
The retail report was conducted by the ICSC and UBS, a banking and financial group. The news was not all bleak, however. The ICSC predicts year-over-year comparable-store sales to increase by 4% in August.