Weekly retail sales rise 0.6%

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Retailers experienced another week of positive sales results as consumers continued to take advantage of discounts and early spring fashions. According to the International Council of Shopping Centers and Goldman Sachs, which released data today, weekly sales improved by 0.6% for the week ending Feb. 21. On a year-over-year basis, sales trends continued to struggle as sales declined by 0.8%.

‘Sales improved again this past week and extended its nonnegative trend to four weeks –- a welcome sign for retailers,’ said Michael Niemira, chief economist of the shopping center group. ‘Although retail-sector conditions continue to be weak, the message appears to be that consumer spending is just not as weak as in recent months.’

Still, Niemira said the council expects same-store sales will be down 1% to 2% in February compared with the same period last year.

Figures are based on sales at stores open at least a year, known as same-store sales and considered a barometer of a retailer’s health.

-- Andrea Chang