2012 Economic Calendar
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Redbook
Released On 11/6/2012 8:55:00 AM For wk11/3, 2012
PriorActual
Store Sales Y/Y change1.8 %0.8 %

Highlights
Hurricane Sandy, closing stores and keeping shoppers at home, sharply slowed retailer sales growth in the November 3 week based on Redbook's same-store tally where year-on-year growth is only plus 0.8 percent vs plus 1.8 percent in the prior week. The latest year-on-year rate is lowest since the Easter distortions of April 2011. The November 3 week includes four days of October which, despite last-minute Halloween shopping through the bulk of the country, points to slowing sales at month-end.

For November, the month so far is tracking at minus 0.6 percent compared to October which is an early negative signal for the government's ex-auto ex-gas reading. But the verdict is far from in, as November is incredibly back loaded with Redbook noting that most of the month's business is in the two days after Thanksgiving.

Definition
A weekly measure of comparable store sales at chain stores, discounters, and department stores. It is a less consistent indicator of retail sales than the weekly ICSC-Goldman 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 through the month. 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 about 10 percent of total retail sales.  Why Investors Care
 
 

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