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Economy in Brief

U.S. Chain Store Sales Jump To New High
by Tom Moeller  July 10, 2013

Consumers regained their footing this month and ramped up spending. The International Council of Shopping Centers and Goldman Sachs reported that chain store sales surged 3.0% last week (2.9% y/y) to a record high. That gain raised sales 4.1% above the June average following two months of decline. 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 sales figures are available in Haver's SURVEYW database.

ICSC-Goldman Sachs (SA, 1977=100) 07/06/13 06/29/13 06/22/13 Y/Y 2012 2011 2010
Total Weekly Chain Store Sales 565.4 548.9 545.8 2.9% 3.0% 3.2% 2.9%
   W/W % 3.0 0.6 1.1 -- -- -- --
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