The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index edged up 0.4% in the week ended Saturday from the week before on a seasonally adjusted, comparable-store basis, as soft grocery-store business weighed on stronger drug-store and wholesale-club sales.
"An extended streak of cool seasonal temperatures this year has curbed the consumers' appetite for spring apparel and will likely mean more clearance discounting in the coming weeks," said ICSC Chief Economist Michael Niemira.
ICSC expects April industry sales will increase 2% to 3%.
On a year-on-year basis, the reading rose 2.6%.
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