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 6/12/07 For wk 6/9 2007 | ||||||||
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Highlights
Redbook reported a mild 1.7 percent year-on-year rise in store sales for the June 9 week, little changed from the prior week. The report said results were slightly below plan for most retailers, adding that June sales are "crucial" ahead of clearance sales in July.
Today's results from Redbook and ICSC-UBS extend what is a slowing trend for retailers, whose results are being hurt by weak consumer interest. Tomorrow the Commerce Department will release retail trade data for May.
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