Back-to-school sales are growing, but not by much, according to data from the International Council of Shopping Centers and Goldman Sachs. Sales for the week ended Aug. 28 were up 2.8% from a year ago and up by 0.1% for the prior week. One problem is that the weather is warmer than usual, tamping down demand for fall clothes, says Michael Niemira, ICSC's chief economist. "Overall demand is modest and ICSC Research expects monthly comparable or same-store sales for August to rise about 3%."
Published in Brief: