--BTM-UBSW expects March sales to grow at 2.5% pace
--BTM-UBSW:Latest wkly chain store sales marks fifth consecutive drop

By Nikki Baldwin
New York, March 27 (BridgeNews) - The Bank of Tokyo-Mitsubishi/UBS Warburg said Tuesday its weekly chain store index for the week ending March 24 was down 0.4%, with sales generally "on-to-below plan." The latest reading marks the fifth consecutive weekly decline in the index and the longest contraction since the six-week drop in mid-September of 1999, BTM-UBSW also said.
* * * Poor weather conditions generally limited sales, limiting seasonal merchandise purchases in the latest week, BTM-UBSW said. While consumer traffic rose in the latest week, but this pickup was "too little and too late" for department stores which now expect monthly sales to be below plan even if March sales improve due to the earlier Easter this year.
In terms of regions, sales were strongest in the west, while for merchandise, discount stores said pharmacy goods were the best performers. Meanwhile, BTM-UBS continue to see March sales treading at a 2.5% sales pace following a 3.1% pace in February.
The index rose 1.1% on a year-on-year basis, BTM-UBSW said. End