2013 Economic Calendar
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Released On 2/26/2013 8:55:00 AM For wk2/23, 2013
Store Sales Y/Y change3.1 %2.7 %

February isn't that bad of a month for the nation's retailers based on Redbook whose same-store sales index is up a year-on-year 2.7 percent following the prior week's multi-month high of 3.1 percent. Redbook's monthly reading is up a very strong 1.4 percent which points squarely to strength for the government's ex-auto ex-gas reading for February. Payroll taxes may be up, gas prices may be up, this year's weather may be especially heavy, and this week's sequestration deadline is looming -- but the consumer appears to be spending at least according to Redbook. Watch for consumer confidence data later this morning from the Conference Board.

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.  Why Investors Care

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