Retail Spending Fell Week of March 14

Washington, DC, March 17, 2009–Spending at U.S. retail establishments fell in the week ending March 14, according to a survey from ICSC.

The ICSC-Goldman Sachs survey reported that chain store sales fell by an annual pace of 1.4%, compared to the previous week’s 0.9% contraction. On a weekly basis, sales fell 0.1%, partially reversing the previous week’s 0.2% increase.

The ICSC-Goldman Sachs survey examines 75 retail chain stores in the U.S., excluding restaurants and vehicle demand.

The news was in line with the Johnson Redbook retail survey, which recorded a 1.1% decline in the week compared to the same period last year. Sales to date in March were largely unchanged compared to February