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 10/23/07 For wk 10/20 2007 | |||||||||||||||
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Highlights
Chain-store sales remained soft in the Oct. 20 week according to ICSC-UBS's same-store tally which came in at a year-on-year rate of 2.2 percent vs. the prior week's 2.5 percent pace. The week-to-week decline, perhaps skewed by calendar effects, showed a very steep decline of 1.5 percent. The report said warm weather continues to hurt demand for seasonal goods. The week's readings did in fact shake up the outlook of Michael Niemira who compiles the results and sees only a 2.0 percent rise for the month of October, down from his earlier forecast for 2.5 percent. Redbook is up next.
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