2013 Economic Calendar
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Released On 6/11/2013 8:55:00 AM For wk6/8, 2013
Store Sales Y/Y change2.9 %2.8 %

Unlike ICSC-Goldman, Redbook does not report any weather-effect from heavy East Coast rain during the June 8 week. Redbook's year-on-year same-store sales rate of plus 2.8 is right on trend. But Redbook does note that sales for its sample are below plan so far in June, an important month for retailers going into July 4 clearance sales.

Redbook says the early pace so far in June points to a 0.5 percent month-to-month decline compared to May, an early indication pointing to weakness for the government's ex-auto ex-gas reading for June. The government will post its May report on Thursday with the Econoday consensus pointing to a solid 0.5 percent gain.

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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