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Economy in Brief

U.S. Chain Store Sales Slip
by Tom Moeller August 31, 2004

Chain store sales slipped 0.2% last week and gave back all of the paltry 0.1% rise the week prior according to the International Council of Shopping Centers (ICSC)-UBS.

For all of August, sales are even with the July average but are down 0.4% from the high in May.

During the last ten years there has been a 60% 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) 08/28/04 08/21/04 Y/Y 2003 2002 2001
Total Weekly Retail Chain Store Sales 438.4 439.3 2.6% 2.9% 3.6% 2.1%
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