Retailers closed out December slightly below plan, according to Redbook whose same-store sales index shows a 2.9 percent year-on-year rate for the December 29 week. The report says the week's sales were more promotional than retailers planned which points to weakness for profit margins. Chain stores will post their individual results on Thursday.
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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