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Weekly Sales: Mixed, but early
[private]Store sales in the first of four retail-August weeks were mixed, with the Redbook survey group generally “on or slightly better than plan” but the ICSC/Goldman Sachs group noted “headwinds,” particularly rising gasoline prices, and reported weekly comparable-store sales up about two percentage points less than the 4.0%-to-5.0% expectation for the month.
However, both surveys noted that it is very early days in the back-to-school calendar, and that the true health of the season cannot be fixed yet. The ICSC report maintained an upbeat tone–though the impact of gas prices will onviously be watched closely.[/private]