Valentine's shopping wasn't a flop but it didn't get any help from very heavy weather in the Northeast and South during the February 15 week. Redbook's same-store year-on-year rate did improve 4 tenths in the week to plus 3.2 percent but the 4-week average is dead flat for a third straight week at 3.0 percent and down from a 3.9 percent peak in the first part of January. Redbook's month-to-month comparison shows a sizable 1.2 percent decline so far for February against January. Weather, again, is the story behind weakness in retail.
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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