By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade index fell more than 2-1/2
points in the May 21 period to a 61.0 level that, though above 50 to
indicate solid year-on-year growth, is a bit below trend to indicate
trouble for May, according to the results of Market News International’s
weekly survey released Monday.
Total sales are a year-on-year +4.9%, down four tenths in the
period, while same-store sales are +3.2% for a nine tenths decline.
When adjusted for a monthly comparison, MNI’s data are signaling a
1/2 point dip for May retail sales.
Retailers were out in force last week trimming back guidance
following what was for many a slower-than-expected April quarter that
was hurt by high gas prices and soft consumer confidence.
Income for the sample continues to slow, now at a very thin
year-on-year +4%. Sample size in the period is 232 chains making up
176,400 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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