Released on 5/22/07 For wk 5/19 2007 Store Sales Y/Y change Actual 1.9% Previous 2.7 %
Highlights Retail sales in May, so far at least, don't seem much better than April. Earlier this morning ICSC-UBS reported a weak 1.9 percent year-on-year rise in the May 19 week, backed now by Redbook and its 2.0 percent tally. Redbook said the latest comparison was hurt by a calendar shift for Mother's Day which, on May 13, fell a week earlier this year. The report also said cool weather hurt demand for summer goods. High gas prices are no doubt also a factor.
One month's results usually don't mean that much, but store sales for May, following comparison distortions and disappointments over April, seem certain to prove unusually important. Markets showed no early reaction to today's reports.
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