First ICSC-Goldman and now Redbook report weak sales in the March 1 week, at a year-on-year same-store plus 2.9 percent rate for Redbook which is unchanged from the prior week. Redbook's month-to-month comparison is down 1.3 percent which points to weakness for the government's ex-auto ex-gas reading for February. And Redbook sees weakness for March as well as this year's Easter is three weeks later than last year which will push sales into April at March's expense. Individual chain stores will post their February sales on Thursday.
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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