US Chain Store Sales Fall 1% Last Week

New York, May 17–U.S. chain store retail sales fell in the latest week putting the index reading at its lowest in three weeks, as cooler temperatures continue to hurt the demand for warm-weather clothing, a retail report said on Tuesday.

Sales fell 1.0 percent in the week ended May 14, compared with a 0.7 percent increase the previous week, the International Council of Shopping Centers and UBS said in a joint report.

Compared with the same week a year ago, sales momentum also slowed to a 3.3 percent increase after rising 3.5 percent the preceding week.