May ended on an up note based on ICSC-Goldman released earlier this morning and now Redbook whose year-on-year same-store sales rate rose 3 tenths to plus 3.5 percent. Redbook's month-to-month indication is plus 0.7 percent which points to a solid rebound for the government's ex-auto ex-gas reading for May which slipped 0.1 percent in April. Chain stores will post their individual results 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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