Gavekal Capital: US Same-Store Sales Growth Reach 9-Year High

Tuesday, September 16, 2014

US Same-Store Sales Growth Reach 9-Year High

The ICSC-UBS/Goldman retail chain same-store sales is a useful weekly indicator of general merchandise spending which accounts for roughly 10% of the US retail market. Because it is a weekly data point, this series can look noisy. To help trends stand out more, we like to look at the one-quarter moving average of the year-over-year change. As you can see in the chart below, same-store retail sales have been gaining steam since early April. The one-quarter moving average of the year-over-year change is just below 4% and is at it's highest level since 9/16/2005.

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Gavekal Capital is a US registered investment advisory firm that manages the Gavekal Knowledge Leaders Strategy. Knowledge Leaders are a group of the world’s leading innovators with deep reservoirs of intangible capital. These companies often possess competitive advantages such as strong brand, proprietary knowledge or a unique distribution mechanism. Knowledge Leaders are largely service-based and advanced manufacturing businesses, often operating globally. Gavekal Capital seeks to identify the world’s leading knowledge companies through a proprietary process that analyzes corporate knowledge investments.
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