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U.S. Chain Store Sales Continue To Lose Momentum
by Tom Moeller  March 4, 2014

The International Council of Shopping Centers and Goldman Sachs reported that chain store sales inched up 0.3% (1.6% y/y) last week and made up half of the prior week's decline. The rise left sales up 1.5% versus last year, roughly half the rate of increase of two years ago. 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) 03/01/14 02/22/14 02/15/14 Y/Y 2013 2012 2011
Total Weekly Chain Store Sales 540.9 538.9 542.0 1.5% 2.3% 3.0% 3.2%
   W/W % 0.3 -0.6 2.5 -- -- -- --
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