2010 Economic Calendar
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Redbook
Released On 3/23/2010 8:55:00 AM For wk3/20, 2010
PriorActual
Store Sales Y/Y change3.2 %3.6 %

Highlights
An Easter-calendar effect, together with surprisingly solid underlying demand, is making for the strongest retail results of the recovery. Redbook reports a plus 3.6 percent year-on-year same-store sales rate in the March 20 week, right at ICSC-Goldman's 3.7 percent rate reported earlier this morning. Redbook importantly offers a month-to-month comparison which is at a solid plus 0.9 percent, slightly lower than this time last month but still pointing to strength for the ex-auto ex-gas category of March's retail sales report. Redbook said warm weather helped sales and it reports particular strength across women's apparel and for lawn & garden equipment. Sales gains for the ongoing week are likely to increase further reflecting progressively easier year-on-year comparisons given this year's Easter shift to the beginning of April, a shift that will pull sales into March.

Definition
A weekly measure of comparable store sales at chain stores, discounters, and department stores. It is a less consistent indicator of retail sales than the weekly ICSC-Goldman index. It is also calculated differently than other indicators. For instance, figures for the first week of the month are compared with the average for the entire previous month. When two weeks are available, then these are compared with the average for the previous month, and so on through the month. It might be more useful to compare year-over-year figures since these are indeed compared to the comparable week a year ago. This index is correlated with the general merchandise portion of retail sales covering about 10 percent of total retail sales.  Why Investors Care
 
 

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