2012 Economic Calendar
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Redbook
Released On 11/27/2012 8:55:00 AM For wk11/24, 2012
PriorActual
Store Sales Y/Y change1.8 %4.5 %

Highlights
Redbook, like ICSC-Goldman earlier this morning, reports very strong sales during the November 24 week, at a year-on-year plus 4.5 percent for the strongest rate since March. Like ICSC-Goldman, Redbook notes that extended store hours for the Black Friday bonanza especially gave a boost to the results. Also giving a boost were extensive promotional activities which Redbook warns may hurt bottom lines for retailers. For the month of November as a whole, Redbook sees a solid 0.8 percent gain from October which points to strength for the government's ex-auto ex-gas reading in what would be a very good start to the holiday shopping season.

Definition
A weekly measure of comparable store sales at chain stores, discounters, and department stores. It is a less consistent indicator of retail sales than the weekly ICSC-Goldman 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 through the month. 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 about 10 percent of total retail sales.  Why Investors Care
 

 

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