By Mark Pender

NEW YORK (MNI) – MNI’s U.S. retail trade indicator is picking up
speed, up six tenths in the July 28 period to a 62.2 level that
indicates strong and increasing growth in year-on-year business
activity, according to the results of MNI’s weekly survey released
Monday.

Total year-on-year sales growth is +4.4% with same-store sales at
+2.3%.

The monthly comparison with a very weak June looks easy with MNI’s
data pointing to +0.5% for the government’s July retail sales headline.

Early reports on the back-to-school season are upbeat with the
general merchandise and electronics & appliances categories, along with
teenwear, showing strength this month.

Though some are beginning to talk about the need to discount,
income growth for the sample is still solid at +7%. Sample size in the
period is 181 chains representing 222,300 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 **

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