The ICSC same store sales index moderated a bit but still managed a gain of 0.4 percent during the week ending July 9. Year-on-year comparable store sales are 5.5 percent higher.
Michael Niemira, ICSC Vice Price President of Research and Chief Economist said, “The healthy sales momentum continued from June into the July fiscal month, helped by hot weather. As we move through the next few weeks, summer clearance sales, as well as back-to-school spending will set the pace for sales throughout the month,” he added.
ICSC expects July sales will rise 3.5% to 4.5%, excluding the impact of fuel, and 4.5% to 5.5% including fuel sales.