This weekly measure of comparable store sales at major retail chains, published by the International Council of Shopping Centers, is related to the general merchandise portion of retail sales. It accounts for roughly 10 percent of total retail sales. Why Investors Care
| Released on 5/20/08 For wk 5/17 2008 | |||||||||||||||
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Highlights
ICSC-UBS reports a third week of weakness for retailers, the result it said of high gas prices that are forcing consumers to spend less and to consolidate shopping trips. ICSC-UBS's index fell 0.4 percent in the May 17 week for a soft +1.6 percent year-on-year rate. The report said consumers, hit by high gas prices, are cutting back on restaurants, entertainment, travel and clothes.
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