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Economy in Brief

U.S. Chain Store Sales Again Battered By A Hurricane
by Tom Moeller September 28, 2004

Chain store sales fell another 0.3% last week as Hurricane Jeanne hit Florida's east coast on Friday, according to the International Council of Shopping Centers (ICSC)-UBS. The decline followed a 1.1% drop the prior week prompted by Hurricane Ivan.

The decline lowered September sales so far 0.7% below the August average which was unchanged from July.

During the last ten years there has been a 60% correlation between y/y change in chain store sales and the change in non-auto retail sales less gasoline.

The ICSC-UBS retail chain-store sales index is constructed using the same-store sales reported by 78 stores of seven retailers: Dayton Hudson, Federated, Kmart, May, J.C. Penney, Sears and Wal-Mart.

ICSC-UBS (SA, 1977=100) 09/25/04 09/18/04 Y/Y 2003 2002 2001
Total Weekly Retail Chain Store Sales 433.5 434.7 3.5% 2.9% 3.6% 2.1%
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