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 8/12/08 For wk 8/9 2008 | |||||||||||||||
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Highlights
ICSC-UBS reports a scaling back in consumer spending during the Aug. 9 week, down 1.1 percent from the Aug. 2 week for a year-on-year rate of 2.6 percent that's down 3 tenths in the week. Saying traffic is picking up but consumers are cautious, the report pegs only a +2 percent same-store sales rate for the full month of August, down from a +2.5 to +3.0 percent estimate for July. Levels in both ICSC-UBS and Redbook picked up in July, a contrast to mostly soft chain-store reports on Thursday and perhaps behind what are relatively upbeat expectations for Wednesday's retail sales report.
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