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 7/10/07 For wk 7/7 2007 | ||||||||
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Highlights
Redbook, in contrast to ICSC-UBS, is reporting weak store sales, with year-on-year growth at a paltry 0.8 percent in the July 7 week. The reports taken together indicate soft sales at best, consistent with company news from the sector which have been mixed at best. Just this morning Home Depot, out of the suffering home products category, lowered estimates. There's a lot more retail news this week with a run of chain stores to report June results on Thursday and of course the Commerce Department to issue retail trade data on Friday.
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