A weekly measure of sales at chain stores, discounters, and department stores. It is a less consistent indicator of retail sales than the weekly ICSC 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. 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 only about 10 percent of total retail sales. Why Investors Care
| Released on 3/6/07 For wk 3/3 2007 | ||||||||
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Highlights
Unlike ICSC-UBS earlier this morning, Redbook reported little change in the March 3 week showing a year-on-year same-store growth rate of 2.9 percent compared with 3.0 percent in the prior week. ICSC-UBS said heavy weather hurt sales in the week, a period which overlapped only at the very end of February. Redbook's report today concentrated on the month of February, saying sales were solid. Redbook looks for a 3.2 percent year-on-year rate on the month vs. ICSC-UBS's call for 2.5 to 3.0 percent. Chain stores will post their February results on Thursday.
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