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 8/12/08 For wk 8/9 2008 | ||||||||
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Highlights
Consumers slammed on the brakes according to Redbook's tally that shows a +1.5 percent year-on-year pace in the Aug. 9 week vs. +3.5 percent in the Aug. 2 week. ICSC-UBS also reported a decline in the week but not nearly so dramatic, to a 2.6 percent pace for a 3 tenths dip. Redbook noted that stores are still in transition to the back-to-school season. Strong readings in Redbook and ICSC-UBS through much of July may be behind relatively upbeat expectations for Wednesday's July retail sales report.
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