Heavy weather, this time in the South, has been pulling down store sales with ICSC-Goldman's year-on-year same-store sales rate at a recovery low of zero percent. Week-on-week, the rate is up 0.3 percent. The report notes wide weakness except for drug stores where consumers have been picking up basic essentials. Redbook will post its 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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