There's a major separation between the weekly chain-store reports with ICSC-Goldman, issued earlier this morning, reporting weakness in contrast to Redbook which is reporting enormous strength. Redbook's same-store sales index jumped to a year-on-year plus 4.7 percent in the August 31 week which is up 9 tenths in the week for the strongest rate since December 2011. Redbook attributes the strength to back-to-school sales and further notes the week excludes the usually heavy sales of the Labor Day weekend. Redbook's month-to-month comparison shows a 0.6 percent gain, one that points to strength for the government's core retail sales reading.
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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