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Economy in Brief

U.S. Chain Store Sales Soft
by Tom Moeller August 24, 2004

Chain store sales recovered just 0.1% last week of a 0.6% decline in sales the week prior according to the International Council of Shopping Centers (ICSC)-UBS.

The lackluster performance left sales so far in August 0.1% above the July average which rose 0.3% versus June.

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) 08/21/04 08/14/04 Y/Y 2003 2002 2001
Total Weekly Retail Chain Store Sales 439.3 438.8 2.9% 2.9% 3.6% 2.1%
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