Ahead of the Bell: Retail Sales

The International Council of Shopping Centers-UBS Index and the Johnson Redbook Retail Sales Index release retail data for the first full week of July at 7:45 a.m. and 8:55 a.m. EDT, respectively. There are no consensus estimates available.

The Johnson Redbook Retail Sales Index, which monitors 9,000 retail units, showed same-store sales rose 2.9 percent for the week ended July 5, compared with the year-ago period. The ICSC-UBS Index, which tracks 53 stores, reported same-store sales edged up 2.3 percent--the strongest pace since early May--during the same period. June is a five-week month on the retail calendar ending July 5.

Same-store sales, or sales open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than from newly opened ones.

While sales improved modestly over the prior week, retailers experienced uneven demand "due to a continued drag from record high gasoline prices and cooler temperatures" compared to the same period last year, ICSC Chief Economist Michael Niemira wrote in a note to clients.

Catlin Levis, a Redbook analyst, said the Fourth of July holiday weekend helped to drive customer traffic and sales for the week. However, discount stores like Wal-Mart Stores Inc. and Target Corp., saw consumers continue to spend mostly on food and consumables, as well as pet supplies.