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Economy in Brief

Chain Store Sales Recover
by Tom Moeller June 13, 2006

The International Council of Shopping Centers (ICSC)-UBS reported that chain store sales recovered last week from earlier weakness with a 1.2% surge.

The increase left sales in early June off a scant 0.4% from the May average which fell 0.4% from April. 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 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.

The leading indicator of chain store sales from ICSC-UBS jumped 0.8% in early June (-2.9% y/y).

ICSC-UBS (SA, 1977=100) 06/10/06 06/03/06 Y/Y 2005 2004 2003
Total Weekly Chain Store Sales 473.6 468.1 4.0% 3.6% 4.7% 2.9%
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