2013 Economic Calendar
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Released On 7/9/2013 8:55:00 AM For wk7/6, 2013
Store Sales Y/Y change2.9 %3.6 %

Like ICSC-Goldman earlier this morning, Redbook reports very strong sales in the July 6th week, at a same-store year-on-year plus 3.6 percent for the strongest reading since November. ICSC-Goldman attributes gains in its report to an extra-long July 4th weekend, in contrast to Redbook which cites the week's sharp increases in temperatures which pulled consumers into air-conditioned malls and drove up sales of seasonal goods. Month-to-month, Redbook sees a 0.6 percent gain for July which points to strength for the government's ex-auto ex-gas reading. The government will post its monthly sales report for June early next week.

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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