Highlights
Overall sales for the week ending Aug. 1 declined by 0.2 percent according to the weekly report from the International Council of Shopping Centers-Goldman Sachs. On-the-year sales were down 0.7 percent. The decline was attributed to this year's later back-to-school state tax holidays which put downward pressure on the yearly comparison. However, sales should be lifted for the ongoing week. According to ICSC-Goldman, sales for the month of July will probably be weak due to several factors including sharp price markdowns on clearance items, limited inventories and cooler-than-normal temperatures for the month.