U.S. chain store sales posted a stronger than anticipated 4.2% year-over-year comparable-store gain for February 2011 according to the International Council of Shopping Centers (ICSC).
the heels of improving labor markets, broader improving economic conditions, and the reduction payroll tax all of which are more than offsetting the potentially negative drag of high fuel and food prices on consumer mindsets.”
The shift in the date of Easter this year compared with last (April 4, 2010 vs. April 24, 2011) will create some unevenness in the sales pace over the next two months. For March, ICSC projects sales will be flat to up 2% as the Easter shift will be a drag on
sales. However, things should even out quickly and for April ICSC’s early expectations are for an increase of about 5%.
stores, discount stores, drug stores, footwear stores and wholesale clubs.