2010 Economic Calendar
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Released On 7/27/2010 8:55:00 AM For wk7/24, 2010
Store Sales Y/Y change2.7 %2.7 %

Redbook is reporting less strength than ICSC-Goldman. Redbook's same-store sales tally shows a plus 2.7 percent year-on-year rate for the July 24 week, slightly below the four-week average of 2.9 percent. The 2.7 percent pace is the same as the prior week. Month-to-date, July was up 2.8 percent compared to July of last year. However, the month-over-month showed a 0.7 percent drop compared to June.

There was a continuation of the seasonal demand that has been the main driver throughout the month. Business appeared to be firm and steady at discount stores, with emphasis on seasonal hard goods and core consumer goods such as food and household supplies. Hot temperatures brought customers into the stores. Others reported sluggish business and unmotivated consumers suggesting little more than the usual mid-July doldrums.

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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