Thursday's July 4th holiday made for an extra-long weekend for many consumers and drove ICSC-Goldman's same-store sales tally 3.0 percent higher in the July 6th week. The week-to-week change is actually higher than the year-on-year change which is at plus 2.9 percent which nevertheless is the strongest reading since May. Clearance promotions also helped sales in the week, and the report notes special strength at grocery stores. Redbook will post its weekly data later this morning at 8:55 a.m. ET.
This weekly measure of comparable store sales at major retail chains, published by the International Council of Shopping Centers, is related to the general merchandise portion of retail sales. It accounts for roughly 10 percent of total retail sales.
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