Store sales are steady and moderate based on Redbook's same-store index which is up 2.9 percent in the June 29 week which is right in trend. Redbook says summer heat drove up traffic for summer goods, as it warns that consumers, more than ever, are buying according to immediate need. Redbook's month-over-month reading is down 0.5 percent which points to weakness for the government's ex-auto ex-gas category for June.
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