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Economy in Brief

Chain Store Sales Up Again
by Tom Moeller July 27, 2004

Chain store sales rose another 0.2% last week, pulling the sales index to its highest level since early May according to the International Council of Shopping Centers (ICSC)-UBS.

Sales in July are 0.2% higher than the June average which fell 0.8% from May.

During the last ten years there has been a 59% correlation between y/y change in chain store sales and the change in non-auto retail sales less gasoline.

The ICSC-UBS retail chain-store sales index is constructed using the same-store sales reported by 78 stores of seven retailers: Dayton Hudson, Federated, Kmart, May, J.C. Penney, Sears and Wal-Mart.

ICSC-UBS (SA, 1977=100) 07/24/04 07/17/04 Y/Y 2003 2002 2001
Total Weekly Retail Chain Store Sales 440.2 439.2 3.8% 2.9% 3.6% 2.1%
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