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 7/10/07 For wk 7/7 2007 | |||||||||||||||
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Highlights
Retail sales picked up in the July 7 week, the bottom line of an ICSC-UBS report that offers a rare bit of good news on the retail sector. Week-to-week sales rose only 0.1 percent but the year-on-year pace of 2.4 percent is very respectable, reflecting what the report said is better consumer traffic, better consumer confidence, and drier more helpful weather. The report stressed that levels are still modest but are improving and are showing the most consistent strength in three months. Redbook's report, which is also for the first week of July, will be posted at 8:55 a.m. ET. Today's data won't affect expectations for Friday's retail sales report which covers the month of June.
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