| Redbook |
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Released On 10/4/2011 8:55:00 AM For wk10/1, 2011
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Prior | Actual |
| Store Sales Y/Y change | 4.2 % | 4.1 % |
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Highlights
Chain-store sales slowed slightly in the October 1 week, to a same-store year-on-year rate of plus 4.1 percent for a one tenth dip from the prior week. Month-on-month, Redbook's tally is down 0.1 percent which points to flat results for the ex-auto ex-gas reading of the government's retail sales report. Unlike ICSC-Goldman which reports strength in discretionary spending, Redbook says spending is concentrated in consumables and basics. Redbook sees weakness ahead for October, forecasting a big 1.7 percent month-to-month drop. Chain stores will post their September results on Thursday.
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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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