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Mother's Day, warm weather boost retail sales

May 13, 2009

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New York--U.S. chain store sales increased 0.5 percent last week compared with the same period the year before, the first positive year-over-year rating since early December 2008 and the largest since November 29, 2008, according to the latest study from the International Council of Shopping Centers (ICSC).

"A bout of warmer-than-normal weather and the shopping catalyst of Mother's Day helped to lift customer traffic to its highest reading since early December, and with it, the pace of sales improved," ICSC Chief Economist Michael P. Niemira said in a media release.

Niemira added that for the fiscal month of May, the biggest challenge facing retailers is that in May 2008, consumers received about $50 billion in federal tax-rebate monies, of which about one-third was spent. This poses a difficult year-over-year comparison, especially for discounters that benefited the most last year from those rebates.

The ICSC expects May sales will be flat to down 1 percent.
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