By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade index slowed by one point
in the Feb. 19 period to 62.3, still in trend and well above breakeven
50 to indicate solid year-on-year growth, according to the results of
Market News International’s weekly survey released Tuesday.
Total sales rose slightly, to a year-on-year +4.7%, while
same-store sales slowed slightly to +2.2%.
When adjusted for a month-to-month comparison, MNI’s data offer an
early indication for a convincing +0.5% rise in February retail sales.
Chains are reporting release of pent-up demand, held down by this
year’s heavy winter.
Chains are also citing gains tied to tax refunds, that are
appearing one month later this year and that are giving February a lift
relative to January.
Gasoline sales, as they have been for months, are a likely standout
given rising pump prices. Guidance points to strength for two even
larger components: general merchandise and food services.
Markdowns are limited based on commentary and on income which is a
solid on-year +15%.
Sample size in the period is 208 chains making up 191,800 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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