| Redbook |
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Released On 7/24/2012 8:55:00 AM For wk7/21, 2012
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Prior | Actual |
| Store Sales Y/Y change | 1.7 % | 1.3 % |
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Highlights
Two different reports and two different stories. Unlike ICSC-Goldman, Redbook reports significant slowing in the July 21 week which it ascribes to unusually hot weather. ICSC-Goldman, released earlier this morning, describes weather in the July 21 week as cool and favorable for fall goods. Redbook's year-on-year same-store sales index shows a very weak plus 1.3 percent rate. Redbook warns that consumers are in the doldrums and it sees contraction this month which is not a good signal for the government's monthly retail sales report.
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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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