Weakness in apparel sales tied in part to a winding down for the back-to-school season made for a three tenths drop in Redbook's same-store year-on-year sales rate to plus 2.4 percent. This is down slightly from the prior two weeks but still one of the highest readings since June. Redbook sees strength for the September to August comparison, forecasting a very large 1.9 percent monthly gain that, in contrast to signals from ICSC-Goldman, offers an early indication of strength for the government's ex-auto ex-gas reading.
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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