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Economy in Brief

U.S. Chain Store Sales Fall Sharply Again
by Tom Moeller  December 10, 2013

Sales at chain stores remain weak. The International Council of Shopping Centers and Goldman Sachs reported that chain store sales fell 1.6% (+1.5% y/y) last week following a 2.8% drop during Thanksgiving week. The decline follows a 0.1% uptick during all of November after no change in October. During the last ten years there has been a 70% correlation between the y/y change in chain store sales and the change in retail sales at general merchandise stores.

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. General merchandise store sales account for 15% of total retail sales. The data can be found in Haver's SURVEYW database.

ICSC-Goldman Sachs (SA, 1977=100) 12/07/13 11/30/13 11/23/13 Y/Y 2012 2011 2010
Total Weekly Chain Store Sales 535.2 544.1 559.6 1.5% 3.0% 3.2% 2.9%
   W/W % -1.6 -2.8 2.6 -- -- -- --
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