Same-store sales fell back 1.1 percent in the April 13 week, the result of wet weather and soft business at discounters. But ICSC-Goldman's year-on-year rate is steady and slightly above trend at plus 2.0 percent. Retail sales have been very soft and the report sees full month sales picking up in the next two weeks, forecasting a 2.0 to 3.0 percent year-on-year gain for the month vs March's very soft 1.4 percent gain. Redbook will post its weekly results later this morning 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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