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 store sales proved solid in May, pointing to another month of strength in the Commerce Department's non-auto non-gas category that has yet to show a month-to-month decrease this year. Chains posted year-on-year total sales rates of between +3 to +4 percent, about a point above trend and a little more than a point above this year's trend for the non-auto non-gas category.
The shift away from light trucks appears to have helped chain stores for a second straight month. Discounters did especially well in the month with rates of total sales growth in the 5 percent range. Wal-Mart posted total sales growth of 7.8 percent for its best showing since March last year. By itself, Wal-Mart makes up nearly 10 percent of the non-auto non-gas category.
Today's results should give a lift to retailer share prices and to expectations for next Thursday's retail report which outside of trucks may very well, based on these results, give a boost to the economic outlook.
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