Redbook confirms slowing in retail sales during the September 14 week which was reported earlier this morning by ICSC-Goldman. Redbook's year-on-year same-store sales tally fell to plus 3.4 percent which is well down from 4.6 percent and 4.7 percent in the prior two weeks. Redbook cites unseasonably warm temperatures as a factor in the latest week that held down sales of fall apparel, and it describes remaining back-to-school sales as sporadic. The early look at September retail sales points to little change vs August.
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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