U.S. chain store sales down 1.6 percent last week

Slow pre-Easter sales and cold weather pushed U.S. chain store sales down 1.6 percent last week compared to the previous week, according to ICSC's index. The year-over-year pace of growth slowed slightly to 2.7 percent for the week.

As we come to the end of the month, the expected shift in sales for spring and Easter-related goods has become apparent," said Michael P. Niemira, ICSC's chief economist and director of research.

For March as a whole Niemira says he expects same-store sales to rise between 2.5 percent and 3 percent, on a year-over-year basis.

Compiled by the staff of Shopping Centers Today. © March 28, 2006 International Council of Shopping Centers.