Retail sales slowed in the August 20 week according to ICSC-Goldman's same-store sales tally that fell 1.0 percent for a year-on-year rate of plus 3.0 percent which is the slowest rate in two months. Weakness at discount chains was a key feature of the week though the report notes that cooler temperatures helped back-to-school sales in the Midwest and East. Despite the week's decline, the report is sticking to its full month ex-gas call for a 3.0 to 4.0 percent year-on-year gain which would compare against ICSC-Goldman's gain of 3.5 percent in July and which points to little change for the government's ex-auto ex-gas category. Redbook, which has been trending higher than ICSC-Goldman, is up at 8:55 a.m. 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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