Retail sales rise 11.3% for week

U.S. retail sales for the week ending June 26 improved a steady 11.3% from the same week in 2003, according to ShopperTrak’s National Retail Sales Estimate (NRSE). Although some unfavorable weather throughout parts of the country slowed the sales pace from last week’s blistering performance, the month of June continues to show positive retail sales growth.

“As weather turned cooler over the last week and there was little pressing holiday shopping, customer traffic flows and sales were down,” said Michael Niemira, chief economist and director of research for the International Council of Shopping Centers. “But overall, June’s sales are still holding up and that’s what’s most encouraging.”

ShopperTrak also reported a slight 0.8% decline in weekly sales for the period ending June 26, as compared to the previous week ending June 19. To date, average weekly sales for June, versus the same period in 2003, have improved a healthy 11.6%.

Developed by ShopperTrak, the NRSE provides a nationwide benchmark of retail sales. It is derived from the U.S. Commerce Department’s GAFO (general merchandise, apparel, furniture, sporting goods, electronics, hobby, books and other related store sales) statistic, as well as ShopperTrak’s proprietary industry intelligence on shopper movement and sales statistics.

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