By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade indicator rose 2.8 points
in the Nov. 3 period to 62.8, well above breakeven 50 to indicate strong
growth in year-on-year business activity, according to the results of
MNI’s weekly survey released Monday.
Month-to-month indications, however, are flat with MNI’s data
signaling -0.2% for the government’s October retail sales headline with
-0.1% indicated for both the ex-auto reading and ex-auto ex-gas reading.
Early commentary on Hurricane Sandy is centered on store closures
which were heavy in the Northeast during the week. In an offset, chains
also report a spike in sales of basics leading up to the storm.
Total sales for the sample are at a year-on-year +4.5% with
same-store sales at +2.8%.
Non-store retailers and furniture look to be on the soft side in
October with general merchandise and electronics & appliances showing
strength.
The sample is healthy. Income growth, at +10%, is climbing and
guidance is pointing to increasing rates of year-on-year growth going
into 2013.
Sample size in the period is 188 chains representing 237,300
separate retail locations.
Editor’s Note: MNI compiles its retail trade indicator based on a
weekly sample of company news and data.
** MNI New York Bureau: 212-669-6430 **
[TOPICS: MDURE$,MT$$$$,M$U$$$,M$UEQ$,MAUDS$]
