Warm weather and high gas prices kept consumers out of stores during the February 25 week, according to ICSC-Goldman whose same-store sales index fell a sizable 1.0 percent compared to the prior week. The year-on-year rate of plus 2.7 percent is down five tenths from the prior week for the lowest reading in three months. The report describes sales trends as uneven and forecasts a soft year-on-year rate of plus 3.0 to 3.5 percent for total February sales. Redbook is up at 8:55 ET a.m.
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.
Why Investors Care