Monthly chain store sales came out this morning with an average decline of 4.9%, which was better than expected. Chain stores represent ~10% of retail sales. As consumer spending represents over two thirds of the US economy, investors look to these numbers as a gauge of economic activity. According to the latest data from Thomson Reuters, here are the best and worst for the month of June.
Same Store Sales - June
Avg drop: -4.9%
Best subgroup: Drugs +2.2%
Worst subgroup: Teen Apparel -13.5%