Chain-store sales improved last week, based first on ICSC-Goldman's report earlier this morning and now Redbook whose same-store sales index is at a year-on-year plus 2.8 percent, up 1 full percentage point in the week for the strongest rate of the month. Yet the gain isn't enough to give much help to April as a whole, at least based on Redbook's month-to-month comparison with March which shows a deep 2.5 percent decline. This points to weakness for the government's ex-auto ex-gas reading for the April retail sales report. Redbook notes that cold weather is hurting sales of spring apparel in the colder regions.
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.
Why Investors Care