U.S. chain stores sales posted healthy gains in the latest week, behind signs of robust economic growth, a report said on Tuesday. Sales rose 1.5 percent in the week ended May 1, reversing course from a 0.5 percent fall in 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 increased 6.5 percent, down slightly from the 7.1 percent growth pace of the preceding week.
"With the U.S. economy exhibiting positive signs, clearly consumers feel comfortable with their ability to buy goods and services," said Michael Niemira, ICSC's chief economist and director of research. ICSC maintained that April's comparable store sales will grow at a 5.0 percent pace compared with last year. The ICSC-UBS Weekly Chain Store Sales Snapshot is compiled from a group of major discount, department and chain stores across the country that report their weekly results.///