12:45: U.S. chain-store sales off 0.3% from prior week...
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12:45: U.S. chain-store sales off 0.3% from prior week...
The latest weekly count of U.S. chain-store sales compiled by Bank of Tokyo-Mitsubishi and UBS shows a drop of 0.3 percent from the week ended Sept. 6. On a year-over-year basis, the BTM-UBS weekly sales index is up by 4.1 percent. Back-to-school sales remained strong in the week ended Sept. 13, but the observance of the Sept. 11 anniversary may have had a modest impact on retail activity, the BTM-UBS report said. For all of August, chain-store sales were the strongest they've been since June 2002, BTM-UBS said, adding that it expects the pace of September's sales "to slow a tad after some hefty clearance activity." Still, September comp-store sales could clock in with growth pegged at 3.5 percent to 4.0 percent, BTM-UBS said.
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