Monthly sales volumes from individual department, chain, discount, and apparel stores are usually reported on the first Thursday of each month. Chain store sales correspond with roughly 10 percent of retail sales. Chain store sales are an indicator of retail sales and consumer spending trends. Why Investors Care
Highlights
Chain-stores reported weak December sales, at least with the major exception of Wal-Mart which appears once more to be winning customers at the expense of others. Overall results show marginally positive total sales and slightly negative same-store sales, pointing to a meaningful slowdown from a very strong November for the non-auto, non-gas category of Tuesday's retail trade report. Wal-Mart posted solid increases during December including a 5.3 percent year-on-year total U.S. sales rate and a 2.4 percent same-store gain (excluding fuel). Including fuel, same-store sales at Wal-Mart gained 2.7 percent hinting that the gasoline category of the retail trade report, due to high pump prices, may skew overall results higher.
But the bulk of retailers apparently suffered through a difficult holiday with many complaining of low traffic and promotion-minded customers. Many chains have cut their profit estimates and are scaling back their sales outlook from marginally positive same-store results to marginally negative. The health of the 2008 economy is likely to hinge on the health of the consumer and their willingness to spend. Watch for comments today on the consumer from Federal Reserve Chairman Ben Bernanke.
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