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 1/8/08 For wk 1/5 2008 | ||||||||
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Highlights
Redbook reports a very soft 1.0 percent year-on-year growth rate for same-store chain store sales. The report cited heavy weather, especially on the West Coast, as a major factor. This report together with the ICSC-UBS report, which pegs year-on-year sales at 1.9%, are both at their lowest levels in six months. The strength of holiday sales will be better known on Thursday when the bulk of the nation's chain stores release their monthly results -- and early indications point to softness.
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