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Economy in Brief

Hurricane Ivan Battered U.S. Chain Store Sales
by Tom Moeller September 21, 2004

Chain store sales dropped 1.1% last week, according to the International Council of Shopping Centers (ICSC)-UBS, as Hurricane Ivan slammed into the Gulf Coast.

The decline lowered September sales so far 0.4% below the August average which was unchanged from July.

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) 09/18/04 09/11/04 Y/Y 2003 2002 2001
Total Weekly Retail Chain Store Sales 434.7 439.4 3.5% 2.9% 3.6% 2.1%
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