Sponsors
Billabong ▲ +0.020 | PPR ▲ +1.55 | American Apparel ▲ +0.001 | The Buckle ▲ +0.41 | Columbia ▲ +0.28 | Deckers Outdoor ▼ -0.79 | Dicks ▲ +1.05 | Foot Locker ▲ +0.17 | Genesco ▼ -0.28 | Iconix Brand Group ▼ -0.09 | Jarden Corp ▼ -0.89 | Nordstrom ▲ +1.07 | Luxottica ▼ -0.09 | Nike ▼ -0.25 | Pacific Sunwear ▼ -0.02 | Skullcandy ▼ -0.35 | Sport Chalet ▼ -0.05 | Urban Outfitters ▲ +0.07 | VF Corp ▲ +0.52 | Quiksilver ▼ -0.15 | Zumiez ▼ -0.03 | Macys ▲ +0.60 | Tillys ▼ -0.16 |
Ticker Sponsor
Professional Services
More Professional Services...
Readers Say
Executive Edition is a must have
Executive Edition is a must have

Before Shop-Eat-Surf, there were two sites I paid for premium content on. One is Surfline, the other is the Wall Street Journal. One is about all things surf, the other, the best business content site in the world. Shop-eat-surf is the intersection of those two worlds. Shop-Eat-Surf provides everything from coverage of events, people, brands and trends. However, beyond the Executive Edition "wall" is more meaty analysis and interpretation of financial statements, business models and brand philosophies; why certain brands and companies are succeeding, where others aren't. The Executive Edition is a must have read if the business of surf and action sports are on your radar screen.

- By Jeff Berg, Co-owner, Surfline
The one, undisputed leader
The one, undisputed leader

It is common knowledge in our industry that there is one undisputed leader in reporting on the topics, businesses and trends that impact all of us the most, and it is shop-eat-surf.com. Their access to those who make our industry happen is second to none, and we value not only the content of their reporting but the editorial thought on what it all means both in the present as well as the future. If we were asked to give a rating, it would be five out of five stars.

- By Craig Levra, CEO, Sport Chalet
New Industry Insight

Shorebreak Hotel as a venue for industry events. Cinematographer Louie Schwartzberg's "Moving Art Retreat" in June at Turtle Bay Resort. Details on Industry Insight.


Tiffany Montgomery
Print This Article

Retail sales increase for second consecutive week

By Press Releases
July 06, 2011 9:37 AM

Press Release:

 

RETAILERS CELEBRATE EARLY WITH SECOND WEEK OF SALES INCREASES

 

NEW YORK, July 6, 2011– Retailers enjoyed another week of sales increases as consumers got into the holiday mood early and spent more freely this past week. Overall for the week ending July 2, weekly retail sales rose once again by 1.5 percent, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Index.

 

On a year-over-year basis retail sales also increased from the prior week to 3.5 percent.

 

“As the fiscal month of June came to a close this past week consumers gave retailers something to celebrate as they spent on seasonal goods, giving retailers another week of positive sales increases,” said Michael Niemira, ICSC vice president of research and chief economist.

 

"With retailers reporting their monthly comp-store sales for June on Thursday, sales are likely to be helped by stepped up apparel discounting and some hot and dry weather late in the month," added Niemira.

 

ICSC Research expects comp-store sales will rise between 2.5 to 3.5 percent excluding the impact of fuel and between 3.5 to 4.5 percent with fuel when retailers post their comp-store sales results this Thursday, July 7, 2011.

 

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.

 

Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 55,000 members in over 90 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials.

 

As the global industry trade association, ICSC links with more than 25 national and regional shopping center councils throughout the world. For more information, visit http://www.icsc.org/.

 

 


More on: Retail sales, ICSC

Articles You Might Have Missed