By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade index is little changed in
the Sept. 10 period at 62.0, over 50 to indicate growth in year-on-year
business conditions but not enough to indicate monthly growth, according
to the results of Market News International’s weekly survey released
Monday.
Total sales are a year-on-year +5.0% which, when accounting for new
stores, is in line with same-store sales of +3.0%.
When applying the government’s seasonal adjustments for August,
which are unusually tough, rates from this sample point to trouble for
Wednesday’s retail sales report.
After adjustment, MNI’s sample is pointing to a -0.6% headline for
August retail sales with ex-auto sales indicated at -0.7%.
For the ex-auto ex-gas reading, MNI’s sample is pointing to -1.0%.
Chains have been sticking with guidance, forecasting slight
deceleration in year-on-year comparisons through the holidays. They
repeatedly cite concern over the moderate-price consumer who’s being
hurt by the weak jobs market.
Income for the sample, pulled down by wide discounting, is weak, at
a year-on-year +3%.
Sample size in the period is 183 chains making up 152,000 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 **
[TOPICS: MDURE$,MT$$$$,M$U$$$,M$UEQ$,MAUDS$]