By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade index fell more than 1-1/2
points to 54.9 in the June 26 period, extending a two-week decline to
nearly seven points and signaling trouble for June retail sales,
according to Market News International’s weekly survey.
Total sales fell one percentage point to a year-on-year +2.7% while
same-store sales slipped two tenths to +1.9%.
Income also fell but remains solid at a year-on-year +18%. The
period’s sample is 102 chains for 97,300 retail locations.
When adjusted, MNI’s data are pointing to a -1.0% headline for June
retail sales. The comparison with April, a month when optimism was at a
recovery best, is more than twice as severe, at -2.2%.
Chains are reporting thinning traffic and warning that consumers
are once again becoming defensive, keeping clear of discretionary goods.
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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