Citing weak traffic, ICSC-Goldman reports a 0.3 percent same-store sales decline in the September 29 week for a year-on-year rate that is down five tenths to plus 2.4 percent. Year-on-year growth in this report has slowed about a percentage point over the past four weeks, but ICSC-Goldman is upbeat and describes the trend as sustainable and a positive for the holiday shopping season.
Yet ICSC-Goldman does see significant year-on-year moderation for September sales as a whole, to plus 3.0 to 4.0 percent from August's very strong 6.0 percent. Note this forecast, which points to weakness for the government's ex-auto ex-gas reading, excludes drug stores where pharmacy sales are being skewed lower by a sweep of generic introductions. Chain stores will post their monthly results on Thursday morning. Later this morning at 8:55 a.m. ET, Redbook will post its weekly report.