By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade indicator slowed by seven
tenths in the July 7 period to a 61.4 level that indicates strong
year-on-year business conditions but not strong enough for monthly
growth, according to the results of MNI’s weekly survey released Monday.
Total year-on-year sales growth is +4.1% with same-store sales at
+2.5%.
Month-to-month, MNI’s data are pointing to a -0.2% decline for
total retail sales in June.
Ex-auto is indicated at -0.1% with ex-auto ex-gas indicated at
-0.3%.
Chains say discretionary spending isn’t yet getting a lift from
lower gas prices and they warn that heavy weather late in the month was
a negative.
Brand-to-generic transitions significantly hurt drug chains in June
with restaurants also looking weak. Building material stores are looking
for a bounce back after two months of weakness.
Income growth for the sample is holding, for a sixth week in a row,
at a four-month high of +8% which points to healthy pricing.
Sample size in the period is 153 chains representing 159,300
separate retail locations.
Editor’s Note: MNI compiles its retail trade index based on a
weekly sample of company news and data.
** MNI New York Bureau: 212-669-6430 **
[TOPICS: MDURE$,MT$$$$,M$U$$$,M$UEQ$,MAUDS$]
