Redbook says the big Eastcoast snowstorm didn't hold back shoppers from chasing bargains and redeeming gift cards. Year-on-year same-store sales rose 3.5 percent in the January 1 week, below the prior week but right in line with trend and pointing to a very positive 0.4 percent gain vs November. This latter reading points to a solid gain for the government's December ex-auto ex-gas category in what would be substantial evidence of consumer strength.
A weekly measure of comparable store sales at chain stores, discounters, and department stores. Redbook tracks week-to-week change, month-to-date change, and year-on-year change with the latter the most closely watched reading. The report offers early indications on ex-auto ex-gas retail sales.
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