Econoday Report: ICSC-UBS Store Sales 17, 2007

2007 U.S. Economic Events & Analysis

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ICSC-UBS Store Sales

Definition
This weekly measure of comparable store sales at major retail chains, published by the International Council of Shopping Centers, is related to the general merchandise portion of retail sales. It accounts for roughly 10 percent of total retail sales. Why Investors Care

Released on 4/17/07 For wk 4/14 2007

Store Sales - W/W change
Actual	-0.6%
Previous	0.9 %

Store Sales - Y/Y
Actual	2.3%

Highlights
The bulk of this year's Easter shopping was in March, while last year it was in April. The comparison made for over-sized readings in March and may now be making for under-sized readings in April. ICSC-UBS' chain store index fell 0.6 percent week-on-week to a 2.3 percent year-on-year rate that is down a sharp 1.7 percentage points from the prior week. Unusually cold weather across the country also held back sales.

Many chains are warning that gains in March are likely to disappear in April, a factor that perhaps limited the Treasury market's reaction to yesterday's very strong retail sales report from the Commerce Department. Redbook is up next.