2011 Economic Calendar
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Redbook
Released On 8/23/2011 8:55:00 AM For wk8/20, 2011
PriorActual
Store Sales Y/Y change4.7 %3.6 %

Highlights
Redbook, like ICSC-Goldman, reports slowing in same-store sales during the August 20 week, to a year-on-year plus 3.6 percent to end a three-week run of rates that were well over four percent. Redbook says students, waiting to see what others are wearing, are holding back on back-to-school shopping. Yet the report does note back-to-school strength in the South where school starts earlier. Redbook also notes that retailers are driving sales with discounts which is hurting profit margins. Redbook's month-to-month call, which gives an indication on the government's ex-auto ex-gas category, has been slowing, now at a 0.2 percent gain from 0.7 percent at the beginning of the month.

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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