Store sales are slowing, based on trends in both ICSC-Goldman and now Redbook which shows a very soft plus 1.5 percent year-on-year same-store sales rate in the Feb. 2 week. Both reports are trending at levels back in early November before holiday shopping started to pick up. And both reports are pointing to weakness for January retail sales. Chain-stores will post their January results on Thursday.
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.
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