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 9/23/08 For wk 9/20 2008 | |||||||||||||||
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Highlights
Retail sales remain very weak according to ICSC-UBS's same-store tally that posted a third straight weekly decline, down 1.0 percent in the Sept. 20 week. Year-on-year, sales were unchanged in the week at a very weak +1.3 percent. The report said consumers, concerned about the economy and the financial markets, are conservative and are spending "only" on non-discretionary goods. ICSC-UBS cut its full-month estimate for September another notch, to +1.0 to +1.5 percent. Redbook is up next.
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