By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade index bounced back 3-1/2
points in the Jan. 8 period to 64.4, indicating strong year-on-year
growth but slightly slower growth than November, according to the
results of Market News International’s weekly survey released Monday.
Total sales edged two tenths higher to a year-on-year +5.2% but
same-store sales are breaking lower, down four tenths to +3.3%. Like the
index, on-year sales growth slowed compared to November.
When adjusted and compared against November, the sample points to a
+0.2% print for retail sales, -0.2% ex-auto, and -1.0% ex-auto ex-gas.
The government will post December’s retail report on Friday.
Results at bebe Stores (BEBE) sum up the season for many. Holiday
sales were above trend up to the middle of December when sales weakened,
forcing the chain of 252 women’s apparel stores to cut prices and in
turn lower earnings guidance.
bebe also closed about 20 underperforming stores in the month. A
run of other chains have also been closing stores which is holding down
the sample’s total sales growth. It also hints at the risk that store
closings, together with a limited pace of store openings, may also hold
down growth in the government’s data which are based on total sales, not
same-store sales.
Income for the sample is steady and moderate at an on-year +9%. The
period’s sample size is 132 chains representing 108,800 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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