First ICSC-Goldman and now Redbook report softness in the May 4 week. Redbook's year-on-year same-store sales rate is down 5 tenths to plus 2.3 percent with the report's month-to-month reading very weak, down 2.5 percent for a second week which points to weakness for the government's April reading on ex-auto ex-gas sales. Warning that results fell below target in April, Redbook notes the month was hurt by this year's early Easter which moved sales into March at the expense of April. Chain stores will report their monthly sales on Thursday.
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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