By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade index fell more than two
points in the July 17 period to a 58.6 level that indicates year-on-year
growth but points to another month-to-month disappointment, according to
the results of Market News International’s weekly survey.
Total sales are at +3.2% year-on-year with same-store sales at
+2.3%. Results for this sample peaked in April and have been sliding
ever since.
When adjusted, the results so far for July point to a -1.0%
headline for total retail sales in the next Commerce Department report.
Such a result would further deepen questions over the U.S.
consumer’s participation in the economic recovery.
Weis Markets (164 stores – WMK) sums it up: “It is clear the
economy continues to be a major concern for our customers, who continue
to be extremely cautious in their spending.”
West Marine (330 boating supply stores – WMAR) said it’s starting
to feel the effects of the Gulf spill as boating activities are
increasingly restricted.
Income for the sample is +18%. The period’s sample size is 87
chains consisting of 76,600 retail locations.
Editor’s Note: MNI compiles its retail trade index based on a
weekly sample of company news and data.
** Market News International New York Newsroom: 212-669-6430 **
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