Aggressive promotions boosted sales in the January 4 week, according to Redbook's same-store sales index which is up a very solid 4.1 percent vs a year ago. Redbook reports significant upside surprises at some department stores where promotions this time of year are often heavy. The report notes that December as a whole was more promotional than planned which boosted the top line but which points to a squeeze for the bottom line. Redbook is trending significantly higher than ICSC-Goldman, though the slopes for both are on the rise. Watch for chain-store reports on Thursday for more information on holiday spending.
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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