Same-store sales softened in the June 19 week according to ICSC-Goldman's tally which fell 0.5 percent to a year-on-year rate of plus 2.5 percent. The year-on-year rate is averaging 2.7 percent over the last four weeks and ICSC-Goldman still expects, despite two weeks of weakness, the rate to rise to 3.0 to 4.0 percent for the full month of June which will benefit from a calendar shift that pushed Memorial Day sales into the retail June month. But the calendar quirk aside, reports from the retail sector have been softening perhaps reflecting weakness in the jobs market. Redbook is up at 8:55 ET.
This weekly measure of comparable store sales at major retail chains, published by the International Council of Shopping Centers, is related to the general merchandise portion of retail sales. It accounts for roughly 10 percent of total retail sales.
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