In the news: Chain stores see first sales increase in nearly six months

From the Austin Business Journal

Chain stores across the nation saw a Mother’s Day boost and the first growth in sales in almost six months, according to a weekly chain store sales report from the International Council of Shopping Centers and Goldman Sachs.

The chain store sales index for the week ending May 9 rose by 0.3 percent from the previous week and inched up 0.5 percent compared with the same week in 2008, the report said. That’s the first positive year-over-year reading since early December 2008 and the largest boost since Nov. 29, 2008.

The report said warmer-than-normal weather and the Mother’s Day holiday helped lift customer traffic to its highest reading since early January, and contributed to the improved pace of sales on a week-over-week and year-over-year basis.

The report also said that April comparable-store sales rose by 0.7 percent compared with the same month last year. But looking ahead to May, the report said that some segments of the industry – particularly discount retailers and specifically Wal-Mart – will face flat or decreased sales for the month.