Chain Stores Report Weaker Year-On-Year Sales Growth

Chain stores are mostly reporting weaker rates of year-on-year sales growth in March than in February which hints at weakness for core sales in next week's retail sales report from the government. Though this year's shift in Easter to late March from early April last year should have been a positive for March, store sales are always difficult to read during these two months, two months that should be lumped together for evaluation. In a positive sign, chain stores are holding to their prior earnings and sales guidance.