The International Council of Shopping Centers' research team,which will post its monthly-sales survey later this week, predictsa 2% to 2.5% year-over-year increase. For the week ended April 1,ICSC calculated a 2.4% rise, down from 2.7% the previous week.
A Bear Stearns research note points out that gas prices are up17% from last year and could impact spending habits. "We alsoexpect that Target and Wal-Mart are likely to be impacted most bythe later holiday because they sell both food and seasonalmerchandise," the note says.
In the department-store sector, Bear Stearns predicts a 3% to 5%increase for Nordstrom, and 1% to 3% gains for both J.C. Penney andKohl's. From Federated Department Stores, the country's largestchain in the category, the firm forecasts flat sales.
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