NEW YORK – Sales at U.S. retail stores open at least one year declined a seasonally adjusted 0.3 percent over the past week, reversing the previous week’s 1.1-percent increase, according to the International Council of Shopping Centers and UBS Securities LLC report for the seven days ending August 4, according to Bloomberg News.
Compared with the same week of 2006, same-store retail sales rose 3.1 percent last week.
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For all of July, same-store retail sales increased 3.9 percent compared with the same month of 2006, the ICSC-UBS report said.
“The improvement was driven by the coldest temperatures for a July since 2004, normal summer clearance and early back-to-school shopping,” said Michael Niemira, ICSC chief economist.
The International Council of Shopping Centers, a New York-based trade group, and investment bank UBS track same-store sales at about 60 chains that represent about 10 percent of U.S. retail sales. Additional information is available at www.icsc.org.
