- ISC-Goldman Store Sales for the week of 6/20 came in flat compared to the prior week, and down 1% Y/Y. That report expects a 5% monthly decline, which is certainly negative. Although the ISC-Goldman Store Sales report cites bad weather conditions as one of the main factors contributing to the disappointing numbers, we remain realistic, which means that personal income, unemployment and continuing deleveraging in many households are the main drivers behind such decline.
- The Redbook Retail index was also disappointing as it showed a 4.4% month-to-month decline.
We note that WMT sales figures are no longer included in these and other retail reports.
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