Released On 11/19/2013 8:55:00 AM For wk11/16, 2013
Store Sales Y/Y change
Store sales are picking up a little steam going into Black Friday, based on the weekly chain-store reports. First ICSC-Goldman earlier this morning and now Redbook report strength with Redbook's year-on-year growth rate at 3.5 percent in the November 16 week. This rate has been gradually on the rise for the last month. Redbook attributes strength in the latest week to Veteran's Day promotions and it also notes that retailers are rolling out holiday deals earlier than ever. It also notes that retailers are extending Black Friday hours in what may give a further lift to sales.
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.
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