Sales improved in the November 10 week but still remain soft, according to Redbook's same-store sales index which shows a plus 1.6 percent year-on-year rate. The rate is double that of the prior week but is not much better than the very soft four-week average of plus 1.4 percent. This average has been sitting at its recovery low the last two weeks.
Redbook, like ICSC-Goldman earlier this morning, reports strength in Northeast sales as consumers replenish basic consumables in the wake of Hurricane Sandy. Nationally, Redbook says the week's sales were held down by the presidential election but then picked up going into the Veteran's Day weekend. Month-to-month, Redbook's indication, at minus 0.2 percent, points to weakness for the government's ex-auto ex-gas reading for November. The government will post its October retail sales report tomorrow morning.