NEW YORK – Chain stores sales rose in the first week of June as warmer weather drove demand for summer-related goods, a report said on Tuesday.
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Sales at major retailers were up 3.3 percent on a year-over-year basis for the week ended June 3, following a 2.5 percent rise the prior week, said Redbook Research, an independent company.
During the latest week, which included the Sunday and Monday of the Memorial Day weekend, most retailers met or slightly exceeded their expectations, aided by holiday promotions, the report said.
Merchants expect the full effect of Father's Day on their sales to occur over the course of next two weeks.
Sales at U.S. retailers June-to-date were up 1.9 percent compared with all of May.
However, a different report showed sales edged up just 0.1 percent in the week ended June 3, according to the International Council of Shopping Centers and UBS Securities LLC.
"Weather was quite positive for igniting seasonal goods such as summer apparel, beer and other beverages, suncare products, patio furniture and other seasonal items," said Michael Niemira, ICSC's chief economist and director of research.
The Johnson Redbook Index is a sales-weighted index of year-over-year same-store sales growth in a sample of large US general merchandise retailers representing about 9,000 stores.
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