Redbook reports mild strength for same-store sales in the June 19 week, at plus 3.2 percent vs. plus 2.7 percent in the prior week for among the best year-on-year rates of the year. The report said the rate was helped by an easy year-ago comparison though Father's Day promotions did drive traffic and did help business across categories. But month-to-month is still soft. Redbook's numbers point to a 0.4 percent decline vs. May, right near its target for a 0.3 percent decline in June. These results are respectable but the retail-sales acceleration in winter and early spring is old history with results now flat at best.
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.
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