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Economy in Brief

Chain Store Sales Rose Slightly
by Tom Moeller July 11, 2006

The International Council of Shopping Centers (ICSC)-UBS indicated that chain store sales ticked 0.2% higher during the opening week of July following two consecutive weeks of decline.

As a result, sales began the month 0.4% below the June average which fell 0.4% from May. 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 rose 0.4% (-2.1% y/y) following two consecutive weeks of 0.3% decline.

ICSC-UBS (SA, 1977=100) 07/08/06 07/01/06 Y/Y 2005 2004 2003
Total Weekly Chain Store Sales 469.2 468.3 3.0% 3.6% 4.7% 2.9%
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