In pretty much complete contrast to ICSC-Goldman, Redbook reports strength in the February 25 week and strength for February as a whole. Redbook's same-store sales tally is at a year-on-year plus 3.4 percent in the week, up five tenths from the prior week for the best showing of the year. Redbook attributes the strength to warm weather, a factor that ICSC-Goldman believes held down sales. Redbook also notes early signs of strength for spring merchandise. The month-to-month comparison is another positive for Redbook whose sample reports a big 1.6 percent gain from January in a reading that points to strength for the ex-auto ex-gas reading of the government's monthly retail sales report. Who's right? Redbook or ICSC-Goldman? Thursday's reports from chain store sales could settle the question.
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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