By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade index slipped 3.3 points
in the Oct. 8 period to 60.7, still well over 50 to indicate very solid
growth in year-on-year business conditions, according to the results of
Market News International’s weekly survey released Tuesday.
Though high-end chains are posting extremely strong results as are
some low end chains, other chains are now busy trimming back guidance
for the holidays following their September results.
Total sales growth for the sample is trending at a year-on-year
+5.6%, down six tenths from the prior week. Same-store sales are
unchanged at +3.0%.
These rates point to no change for September’s ex-auto ex-gas
reading in what would be the weakest result since December.
Gasoline sales may be neutral in September. Gas prices did decline
as did demand indications from wholesale supplies, but these may be
neutralized by what is a strongly favorable month-to-month seasonal
adjustment.
The big effect unquestionably looks to be from autos. Unit sales of
light vehicles surged 8.1% for the largest monthly increase since an
11.3% surge in March 2010. Following price effects and after adding in
used cars and auto parts, the March 2010 surge came out to an adjusted
8.2% gain for the motor vehicle component.
Income for the sample remains moderate at a year-on-year +6%.
Sample size in the period is 135 chains making up 142,600 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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