By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade indicator slipped two
tenths in the Nov. 10 period to 62.6, holding well above breakeven 50 to
indicate strong growth in year-on-year business activity, according to
the results of MNI’s weekly survey released Tuesday.
But in contrast to year-on-year strength, month-to-month
indications are negative.
MNI’s data are pointing to -0.5% for the government’s October
retail sales headline.
Ex-auto is indicated at -0.3% with ex-auto ex-gas indicated at
-0.2%.
The fourth-quarter sequential indication for total sales is -0.2%.
Year-on-year sales rates slowed slightly from the prior period with
total sales at a year-on-year +4.4% and same-store sales at +2.5%.
Some chains are already warning shareholders that big charges are
in store in the aftermath of Hurricane Sandy.
Also, some are warning of consumer malaise and some grocery chains
are warning that food pricing is soft.
Income growth for the sample fell back three percentage points in
the period to +7%.
Non-store retailers and furniture retailers are showing the weakest
readings in October with general merchandise and electronics &
appliances showing strength.
Sample size in the period is 215 chains representing 246,000
separate retail locations.
Editor’s Note: MNI compiles its retail trade indicator 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$]
