Redbook, unlike ICSC-Goldman which reported weakness, reports retail strength in the August 13 week. Redbook's year-on-year same-store sales tally shows an above-trend plus 4.7 percent pace. The report says tax-free holidays in a number of states helped sales as did clearance sales for summer goods. It reports mixed results for the early back-to-school season with some retailers reporting above target results so far but others saying hot weather is hurting sales of fall apparel. Redbook offers a month-to-month tally which is plus 0.6 percent so far in August in what is a positive indication for another month of gains in the ex-auto ex-gas reading of the government's monthly retail sales report.
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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