Dive Summary:
- Sales rose 0.2% during the week of May 18th displaying the first positive growth in sales for the month of May for U.S. retail.
- “Consumers played catch-up this past week and helped to propel weekly sales for retailers,” states Michael Niemira, vice president of research and chief economist for ICSC.
- The totals added 3.1% growth when compared with totals from the same time last year which is the highest pace since mid-January, according to a report.
From the article:
“However, weather conditions continue to play havoc with the weekly pace of sales.”The pace of sales in April hovered around 3 percent, but research shows that May will fall between 2-3 percent range.