Sponsors
Billabong ▼ 0.000 | PPR ▲ +4.25 | American Apparel ▼ -0.015 | The Buckle ▼ -0.49 | Columbia ▼ 0.00 | Deckers Outdoor ▼ -1.20 | Dicks ▲ +0.71 | Foot Locker ▼ -2.45 | Genesco ▲ +1.13 | Iconix Brand Group ▲ +0.08 | Jarden Corp ▼ -0.14 | Nordstrom ▲ +0.12 | Luxottica ▲ +0.99 | Nike ▲ +0.12 | Pacific Sunwear ▲ +0.12 | Skullcandy ▲ +0.13 | Sport Chalet - 0 | Urban Outfitters ▼ -0.13 | VF Corp ▲ +0.25 | Quiksilver ▲ +0.01 | Zumiez ▲ +0.17 | Macys ▲ +0.48 | Tillys ▲ +0.09 |
Ticker Sponsor
Readers Say
Executive Edition rules
Executive Edition rules

“Shop-Eat-Surf” is now officially, the first stop in the morning for industry news. Accurate reporting, no sensationalism, and just the facts. Refreshing support to an incredible industry with a very bright future. Tiffany has cemented her role in the industry....the site is thought provoking, and inspirational. Learning the stories of others is incredibly useful. Great way to connect the retail community with the wholesale and financial, instantly and nationwide. ... And the Executive Edition rules.

- By Bob Hurley, Chairman, Hurley International
I require all our executives to read it
I require all our executives to read it

There is no better publication that I am aware of that is so accurate and on top of any news and developments in our industry. I personally recommend it to many people that want to know and understand more about our industry. For the most part, shop-eat-surf.com gets the stories first. As a matter of fact, I require all the executives in our company to read it.

- By Hezy Shaked, President & CEO, Tilly's
Industry Insight

SIA SNOW SHOW: New "Industry + Intelligence" seminar on January 28.
FSG LAWYERS: Represented Brixton in recent transaction with Altamont Capital.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

Weekly sales slip once again overall sales dip by 0..8 percent

By
May 25, 2010 5:44 AM

Press release:

NEW YORK (May 25, 2010) – Retailers once again saw their sales dip as consumers pulled back a bit on their discretionary spending this past week. Overall for the week ending May 22, weekly sales slipped by 0.8 percent, according to the ICSC-Goldman Sachs weekly sales index. On a year-over-year basis sales were also affected and slowed to 1.3 percent.

"Sales continued to soften over the latest week as mixed regional influences from weather combined with uneven traffic and some softer spending by consumers led to the decline," said Michael Niemira, ICSC director of research and chief economist. "Given the last two weeks sales are now tracking about 2.0 to 2.5 percent for the month which is somewhat below ICSC Research's earlier expectation of approximately 3.5 percent," Niemira added.

In observance of Memorial Day, the ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot will be released on Wednesday, June 2, 2010.

The Weekly Chain Store Sales Snapshot is produced by the International Council of Shopping Centers and Goldman Sachs. This index measures U.S. nominal same-store or comparable-store sales excluding restaurant and vehicle demand. The weekly index is constructed as a sales-weighted geometric average growth rate to preserve long-term consistency and is statistically benchmarked to a broad-based monthly retail industry sales aggregate that currently represents approximately 40 retail chain stores, which also is compiled by ICSC. A representative sample of those major retailers has been used as a control group to extrapolate the weekly sales index. As such, the weekly index statistically represents industry sales and is not just a sum of sales for a handful of retailers. The standard period used for the index is Sunday through Saturday, even though some retailers use a different weekly accounting period. The weekly sales index is presented on an adjusted basis to account for normal seasonality and to counter other data anomalies. Weekly seasonal adjustment is at best difficult for chain store sales given that retailers can and often do shift promotions to counter typical shifts in the calendar. Nonetheless, the approach to weekly seasonal adjustment used follows from the Piser Method, which was popular in the early 1930s and became the standard for weekly adjustment.

The Goldman Sachs Group, Inc. is a bank holding company and a leading global investment banking, securities and investment management firm. Goldman Sachs provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.


More on: Retail sales, ICSC

Articles You Might Have Missed