Econoday Economic Report: Redbook July 10, 2012

2012 Economic Calendar

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Redbook

Released On 7/10/2012 8:55:00 AM For wk7/7, 2012

	Prior	Actual
Store Sales Y/Y change	2.2 %	2.2 %

Highlights
The big improvement seen in ICSC-Goldman's weekly report is not being reported by Redbook whose same-store year-on-year pace is unchanged in the June 7 week at a very soft plus 2.2 percent. But Redbook, like ICSC-Goldman, does report rising demand for seasonal goods which is the result of hot weather. Next report on consumer spending will be Monday with the government's big report on June retail sales.

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