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March chain-store sales drop 2.1 percent

April 10, 2009

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New York--U.S. chain store sales for March decreased 2.1 percent compared with the same period last year, according to the latest study from the International Council of Shopping Centers (ICSC).

According to ICSC Chief Economist and Director of Research Michael P. Niemira, sales performance was dampened in March due to several factors, including a calendar-month shift that caused there to be one less Saturday in March this year compared with last year, and Easter falling three weeks later this year, on April 12 as opposed to March 23.

"These shifts created an unfavorable month-over-month comparison with March of 2008," Niemira said in a media release. "If we adjust for the calendar shifts, sales for March were stronger than reported; in fact, up about 1 percent."

The ICSC expects April same-store sales to be flat to up 1 percent year-over-year.
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