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 9/16/08 For wk 9/13 2008 | |||||||||||||||
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Highlights
Sales at chain stores plunged in the Sep. 13 week, down 1.6 percent for the largest weekly drop so far this year. The year-on-year pace fell 6 tenths to 1.3 percent for its lowest rate in four months. The report noted that this a difficult calendar period for the retail industry, a lull between the back-to-school and Halloween seasons. Still, if Redbook shows similar numbers, concern will build that retail sales in September may prove as weak as they were in August. ICSC-UBS in fact scaled back the lower end of its September estimate to +1.5 percent because of weak sales so far this month, a result that would be well under than the 2.2 percent gain that this report showed in August.
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