June Chain Store Sales Up 4.3%

U.S. chain store sales for June 2008 rose by 4.3 percent on a year-over-year same-store basis according to the International Council of Shopping Centers, Inc.

“June came in better than expected thanks to stimulus checks and warmer weather” said Michael P. Niemira, ICSC’s chief economist and director of research. “Sales continued to be supported by the wholesale and discount sectors.

Niemira added that ICSC expects consumer spending to increase 2 to 3 percent in July.

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.