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 5/13/08 For wk 5/10 2008 | |||||||||||||||
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Highlights
Store sales plunged in the May 10 week according to ICSC-UBS's tally which shows a 1.0 percent week-to-week dip for a very soft year-on-year rate of +0.5 percent -- a year-on-year rate that's down from 2.3 percent in the prior week. The report said record gas prices are holding back spending. The data won't affect expectations for the retail sales report at 8:30 a.m. ET, which is data for April, but it is a reminder that underlying spending, no matter April's results, is very weak.
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