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2008 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
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Monthly sales volumes from individual department, chain, discount, and apparel stores are usually reported on the first Thursday of each month. Chain store sales correspond with roughly 10 percent of retail sales. Chain store sales are an indicator of retail sales and consumer spending trends. Why Investors Care
Highlights
Chain-store sales proved solid in August and together with very strong vehicle sales reported earlier this week point to a solid gain for retail trade data from the Commerce Department, to be released a week from Friday. Wal-Mart led the gains, posting same-store sales growth of about 3%, at the outside of expectations. Chains with operations in Texas and Florida said tax holidays, which this year fell in August not July, boosted sales as did later back-to-school dates in the two states. There were very few complaints that financial-market turmoil during the month hurt consumer spending.
Today's results have already proven a positive for retailer share prices and may yet help the stock market overall. The results, which do not offer ammunition for a Federal Reserve cut, are likely to pressure Treasury prices through the day and may give a boost to the dollar.
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