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Economy in Brief

U.S. Chain Store Sales Retrace Gains
by Tom Moeller  January 7, 2014

The International Council of Shopping Centers and Goldman Sachs reported that chain store sales were off 5.4% last week (1.7% y/y). The decline followed a 2.5% rise during all of December after a 1.1% November increase. 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) 01/04/14 12/28/13 12/21/13 Y/Y 2013 2012 2011
Total Weekly Chain Store Sales 543.4 574.5 569.0 1.7% 3.0% 3.2%
   W/W % -5.4 1.0 1.4 -- -- -- --
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