Monthly sales volumes from individual department, chain, discount, and apparel stores are usually reported on the first Thursday of each month. Chain store sales correspond with roughly 10 percent of retail sales. Chain store sales are an indicator of retail sales and consumer spending trends. Why Investors Care
Highlights
Chain-store sales in November proved mostly soft in a bumpy start to the holiday shopping season. Top performing chains across the shopping spectrum posted disappointing results. Discounter Target was a big surprise, posting a sales gain of only 2.6% that is sharply lower than trend. Upscale department chain Nordstrom posted a soft 2.8% increase while teenwear chain American Eagle Outfitters, which routinely posts double-digit gains, saw only a 1.7% improvement.
Department chain JC Penney was right on trend at 3.6%, while Wal-Mart reported an above trend 4.3% but cut December estimates at the same time.
Today's personal income & spending report wasn't so strong, underscored by a savings rate that continues to contract. Gas prices may have come down, but the American shopper may not be in the position to spend as much as usual this holiday.
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