August Chain Store sales Up 1.7%

U.S. chain store sales for August 2008 rose by 1.7 percent on a year-over-year same-store basis, according to International Council of Shopping Centers, Inc.

“The slower than trend August sales pace was touched by weakness in the economy, cold and wet weather, a later start to the school year and lean inventories,” said Michael P. Niemira, ICSC’s chief economist and director of research.

Niemira added that ICSC expects chain store sales to post a 2 percent increase in September.

ICSC Chain Store Sales Trends is a monthly report on the U.S. retail industry’s sales performance based on an ICSC preliminary compilation of publicly-available sales for 38 chain stores.