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 7/31/07 For wk 7/28 2007 | ||||||||
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Highlights
Clearances and markdowns are giving a boost to store sales, or at least keeping store sales at a moderate level. That's the bottom line from weekly chain store reports with Redbook showing a 2.9 percent year-on-year pace in the July 28 week that compares with ICSC-UBS's 3.2 percent pace, data released earlier this morning. Redbook described the week's results as on plan. Consumer activity proved soft in June, highlighted by this morning's thin 0.1 percent rise in personal outlays. The Conference Board's consumer confidence index at 10:00 a.m. ET will offer the next clue on the consumer.
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