| Redbook |
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Released On 9/7/2011 8:55:00 AM For wk9/3, 2011
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Prior | Actual |
| Store Sales Y/Y change | 4.0 % | 4.9 % |
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Highlights
Redbook, unlike ICSC-Goldman, reports retail strength in the September 3 week. Redbook's same-store year-on-year rate in the week rose a very sharp nine tenths to plus 4.9 percent which is nearly double ICSC-Goldman's rate of plus 2.7 percent. Looking at trends, Redbook has been steady for the last three months while ICSC-Goldman has been gradually slowing. Redbook attributes strength in the latest week to successful Labor Day promotions and it notes that the back-to-school seasonal, for some retailers, was interrupted by Hurricane Irene. Watch for commentary on the retail sector later today in the Federal Reserve's Beige Book.
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Definition
A weekly measure of sales at chain stores, discounters, and department stores. It is a less consistent indicator of retail sales than the weekly ICSC 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. 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 only about 10 percent of total retail sales.
Why Investors Care
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