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Economy in Brief

U.S. Chain Store Sales Fall To 12-Month Low
by Tom Moeller  February 12, 2013

Consumers continue to rein in spending. The latest report from the International Council of Shopping Centers and Goldman Sachs indicated that chain store sales fell 2.5% last week (+2.1% y/y) to the lowest level since February 2012. So far in February sales are down 0.6% from January after that month's 3.2% fall. During the last ten years there has been a 61% correlation between the y/y change in chain store sales and the change in retail sales at general merchandise stores. That correlation recently has declined.

General merchandise store sales account for 15% of total retail sales. The ICSC-Goldman Sachs 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 chain store figures can be found in Haver's WEEKLY database. 

ICSC-Goldman Sachs (SA, 1977=100) 02/09/13 02/02/13 01/26/12 Y/Y 2012 2011 2010
Total Weekly Chain Store Sales 516.8 530.0 517.8 2.1% 3.0% 3.2% 2.9%
   W/W % -2.5 2.4 -1.0 -- -- -- --
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