Redbook and ICSC-Goldman are going in different directions with Redbook reporting rising same-store sales growth and ICSC-Goldman reporting slowing growth. Redbook's year-on-year sales rate is plus 3.1 percent for the February 16 week which is the highest rate since the Black Friday week and nearly double ICSC-Goldman's plus 1.8 percent rate released earlier this morning. Redbook reports strength in Valentine's Day sales and President Day promotions. Redbook sees a big 1.5 percent gain for February relative to January which points to outstanding strength for the government's ex-auto ex-gas reading of the retail sales report. In contrast, ICSC-Goldman trimmed back its estimate for February.
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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