17 August 2004, 17:00  US chain store sales growth slows in week-report

Hurricanes Bonnie and Charley slowed U.S. chain store sales growth in the latest week, a report said on Tuesday. Sales at major retailers increased by 2.3 percent on a year-over-year basis for the week ended August 14, down from the preceding week's 2.4 percent pace, said Redbook Research, an independent company. Sales in August so far were down 0.6 percent compared with July. "Most retailers have kept their inventories lean, leading to more full price selling and helping maintain margins", the report said. The Redbook data are compiled from a sample of same-store sales at general merchandise retailers representing about 9,000 stores. Same-store sales measure revenue at stores open at least one year.///www..com

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