Redbook, like ICSC-Goldman earlier this morning, reports solid strength in same-store retail sales for the August 3 week, at plus 3.7 percent. This is the strongest reading of the year. Both reports cite early strength for back-to-school sales and both note positive effects of tax-free holidays in many states. Redbook offers a special monthly comparison that points to a slight rise in July which is a plus for the outlook for the ex-auto ex-gas reading of the government's retail sales report.
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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