By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade index rose for the third
straight week, up more than two points in the Aug. 28 period to a very
strong 61.6 to reflect deeply dispersed year-on-year growth, according
to the results of Market News International’s weekly survey.
Total sales are at a year-on-year +3.9%, up two tenths in the week
for the best reading in nearly three months. Same-store sales at +3.0%
are also the best reading in nearly three months.
Distribution is solid with 22% of the sample posting significant
gains in sales against just 3% posting significant contraction.
When adjusted, the results point to a +0.5% headline for the
Commerce Department’s retail sales headline.
On the income side, markdowns are taking their toll. Income is at a
year-on-year +11%, in trend with the last five weeks but well down from
the high teens that faded in July and the 20% rates that faded in May.
Sample size in the latest period is 229 retailers making up 153,900
separate U.S. retail locations.
Editor’s Note: MNI compiles its retail trade index based on a
weekly sample of company news and data.
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