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Economy in Brief

Chain Store Sales Flat
by Tom Moeller March 21, 2006

Chain store sales slipped 0.1% lower last week after the prior period's 0.1% up tick, according to the International Council of Shopping Centers (ICSC)-UBS survey.

The average level of sales so far in March is 1.4% ahead of the February average which rose 1.1% from January.

During the last ten years there has been a 47% correlation between the y/y change in chain store sales and the change in nonauto retail sales less gasoline.

The leading indicator of chain store sales slipped 0.3% and in March is a scant 0.1% ahead of February.

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

ICSC-UBS (SA, 1977=100) 03/18/06 03/11/06 Y/Y 2005 2004 2003
Total Weekly Chain Store Sales 470.0 470.5 3.4% 3.6% 4.7% 2.9%
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