Store sales picked up in the August 24 week according to Redbook whose same-store sales index shows a plus 3.8 percent year-on-year rate. This reading is trending a bit higher than a month ago and points to slight strength for the August ex-auto ex-gas reading of the government's retail sales report. Redbook's specific month-to-month reading is signaling a 0.3 percent gain. Strength here contrasts with ICSC-Goldman's report which is pointing to no change for August. Redbook reports strength in the week for back-to-school sales though it notes that retailers are cutting prices to boost sales.
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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