Same-store sales at chain-stores fell a very sharp 1.9 percent in the August 17 week on weakness at discount and dollar stores. Yet the year-on-year rate, at plus 2.2 percent, is still holding up with the comparison to a month ago slightly positive which is a positive indication for the government's ex-auto ex-gas reading. The report notes that unseasonably cool weather is a plus for back-to-school sales. 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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