Ahead of the Bell: Retail Sales

Wall Street on Tuesday will see whether U.S. shoppers continued to forgo purchases of big-ticket items as food and energy prices continue to reach new heights.

The International Council of Shopping Centers-UBS Index and the Johnson Redbook Retail Sales Index release retail data for the fifth week of June at 7:45 a.m. and 8:55 a.m. EDT, respectively. There are no consensus estimates available.

The Johnson Redbook Retail Sales Index, which monitors 9,000 retail units, showed same-store sales rose 2.9 percent for the week ended June 28, compared with year-ago period. The ICSC-UBS Index, which tracks 53 stores, reported same-store sales edged up 2.2 percent during the same period. June is a five-week month on the retail calendar ending July 5.

Same-store sales, or sales open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than from newly opened ones.

Thrifty shoppers continued spend their extra dollars on basic items like food and household goods at discount retailers Wal-Mart Stores Inc. and Target Corp. with some splurging on fans, pool and beach equipment, according to retail analysts.

"There is little driving consumer spending other than staples and basic," said Michael Niemira, ICSC's chief economist, in a note to clients. "A shift to staying close to home during the summer, however, may lift spending a tad as consumers redirect some of that summer travel spending to home activities."