Retail sales rebound in week

April 3, 2012 at 12:06 PM
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DETROIT, April 3 (UPI) -- U.S. retail sales rebounded in the week ending Saturday as warmer temperatures continued to shape the retail environment.

The International Council of Shopping Centers said sales rose 3.8 percent compared to the previous week, in part due to pent up demand. A week earlier, sales fell 0.5 percent compared to the prior week.

From the same week a year earlier, sales were up 4.2 percent.

In what was the warmest final week of March in 20 years, Increased traffic was noted at wholesale clubs, office supply stores, grocery stores and department stores, the trade group said.

The ICSC said the average national price of gasoline rose by 2.3 cents to $3.941 per gallon Monday compared to the previous week.

The average price of gasoline is now 71 cents higher than it was in late December, the U.S. Energy Information Administration said.

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