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Retail sales backpedal in the week

Aug. 20, 2013 at 3:02 PM   |   Comments

NEW YORK, Aug. 20 (UPI) -- U.S. retail sales slipped 1.9 percent from week to week in the seven days ending Saturday, a trade group reported.

Lighter sales for the week are part of a "choppy pace" that continued this week, the International Council of Shopping Centers/Goldman Sachs Weekly Chain Store Index found.

"Sales continued a choppy performance with the latest week's weakness being driven by slower business for discounters and dollar stores, in particular," said Michael Niemira, ICSC vice president of research and chief economist.

Some retail categories saw stronger sales, including specialty stores, electronics stores and grocery stores, Niemira said.

"The good news is that a bout of cool weather nationally helped to drive back-to-school shopping, but compositional shifts offset much of that benefit," he said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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