IE Business Daily Business news for the Inland Empire.
Bad weather tamped down retail sales throughout much of the country during the week before Easter.
Sales for the week that ended Saturday were up only 0.4 percent compared with the previous week, according to the International Council of Shopping Centers and Goldman Sachs Weekly Chain Store Sales Index.
“Retailers stepp[ed] up their promotions, but Mother Nature refused to cooperate as another bout of unseasonable cool weather hit much of the country,” said Michael Niemira, the council’s vice president of research and chief economist, in a statement.
Still, the data released Monday contained good news: sales were up 1.9 percent year-over-year. That’s a solid increase, and it comes immediately after last week’s 2.3 percent gain, the strongest gain in several months.
The council is predicting national sales will grow 3.5 to four percent this month compared with April 2013, even with the possibility of more cool weather this week.
