Chain-store sales remain weak but did improve in the March 1 week, up 0.3 percent vs the prior week for a same-store year-on-year rate of plus 1.5 percent. The year-on-year rate is very soft but is still slightly ahead of the month-ago comparison. ICSC-Goldman says promotions helped offset the effects of adverse weather in the latest week. Redbook will post its results 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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