By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade index slipped more than
two points in the Aug. 6 period to 60.3, still well over 50 to indicate
very strong growth in year-on-year business conditions, according to the
results of Market News International’s weekly survey released Monday.
Total sales fell more than one percentage point in the period to a
year-on-year +4.0% while same-store sales held up a little better, down
four tenths to +3.1%.
But motor vehicles, based on manufacturers’ unit sales, look to
give a sizable lift to total sales. When adjusted, MNI’s data point to a
+0.5% headline for July retail sales.
Ex-autos, indications point to +0.3%. Ex-auto ex-gas, indications
point to a fourth straight +0.2%. The government will post the July
retail sales report on Friday.
Despite soft economic data and very weak consumer confidence data,
retailers for the most part are not downbeat and are generally holding
to guidance which calls for incremental sales and incremental income
growth through the second half.
The sample’s income, however, has been coming down, now at
year-on-year 0% for the lowest reading in a year and a half. Sample size
in the period is 213 chains making up 193,500 separate 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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