The trend in weak retails sales continues with the release of this morning’s ICSC and Redbook retail sales.  As we’ve seen over the course of the last 6 weeks retail sales have been very sluggish.   ICSC is reporting a 0.1% week over week rise in same store sales while the Redbook report came in at another very weak reading of -4.2%.   Econoday reports:

Redbook continues to report extremely weak retail conditions with its same-store sales tally down 4.2 percent in the July 4 week vs. the year-ago week. Redbook pegs June-to-May sales at minus 4.3 percent, a result that would send chills through the global markets. In its commentary, Redbook says consumers are more focused than ever on basic consumables. Chain-store sales will post their monthly results on Thursday, in announcements that will confirm just how weak June really was.

It’s important to note that Wal-Mart is excluded from these figures, but ex-Wal-Mart the figures are still sporting a healthy -2%+ decline.  The consumer is undeniably weak.