Store sales continue to be bumpy according to ICSC-Goldman whose same-store index fell 0.9 percent in the May 24 week with the year-on-year rate down 3 tenths to plus 2.8 percent. The report says retailers in general didn't get much boost from the week's Memorial Day lead-in and that sales were considerably softer at discounters and wholesale clubs. But, in what highlights the unevenness in demand, sales did show strength at department stores as well as at apparel and electronics retailers. ICSC-Goldman doesn't see much strength for May as a whole, forecasting a full-month year-on-year rise of 2.0 to 3.0 percent vs a plus 3.0 percent rise for the report's sample in April. 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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