Aug 21, 2007

ICSC: Same-store sales rise 0.2%By PBN.com

New York – Sales at U.S. retail stores open at least one year rose 0.2 percent over the past week, reversing the previous week’s 0.9-percent decline, according to the International Council of Shopping Centers and UBS Securities LLC report for the seven days ending Aug. 18, Bloomberg News said.

The ICSC-UBS report cited cooler weather across much of the nation, and sales-tax holidays in many states, which helped boost back-to-school and summer-clearance shopping.

Compared with the same week of 2006, same-store sales rose 2.7 percent last week, accelerating from their 2.3 percent in the week ended Aug. 11.

“Sales got a lift from a confluence of factors,” said Michael Niemira, the ICSC’s chief economist.

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