Retail sales slow in the week

U.S. retail sales receipts declined 1.6 percent in the week that ended Friday, the International Council of Shopping Centers said Tuesday. The ICSC-Goldman Sachs weekly tracking report indicated sales fell as "sales volatility continued," in the week, the trade group said, noting "strong sales ... at some retailers while others endured weaken weekly sales this past week." The report said sales, although down for the week, rose 2.2 percent from the same week of 2012. "It was another mixed week of sales results for retailers as strong business was seen in the staple sales categories of grocery, drug, wholesale clubs and dollar stores, but weak demand at the more discretionary stores," said Michael Niemira, ICSC vice president of research and chief economist. The group predicted final sales figures for July would show an increase of 3 percent to 3.5 percent after rising 4.1 percent in June.