Chain-store sales were up in the February 9 week according to Redbook's same-store year-on-year sales index which rose to plus 2.4 percent, up nearly a full percentage point from the prior week for the strongest reading since late December. The report's month-to-month measure also shows a big start to February, up 1.1 percent month to date vs January. Tomorrow the government will post retail sales for January, a month where Redbook sees weakness vs December with a minus 0.6 percent reading that points to trouble 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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