IE Business Daily Business news for the Inland Empire.
The Fourth of July looked like Christmas to some U.S. retailers.
Sales were up 1.7 percent for the week that ended Saturday compared with the previous week, according to the International Council of Shopping Centers and Goldman Sachs Weekly Chain Store Sales Index.
Year-over-year, sales were up a robust 3.3 percent, according to the index, which was released yesterday.
Despite bad weather in some parts of the country, consumers took advantage of the three-day weekend and opened their wallets and pocketbooks, said Michael Niemira, a research consultant for the council.
Sales at clothing and wholesale clubs were up substantially compared with the same week in 2013, while department, electronics, office, drug, office and furniture stores posted solid gains, Niemira said in a statement.
The council is predicting that retail sales will be up 3.5 percent this month compared with last July, but that prediction could be raised slightly because recent sales have been so strong, Niemira said.
