Econoday Report: Redbook 8, 2008

2008 U.S. Economic Events & Analysis

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Redbook

Definition
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 7/8/08 For wk 7/5 2008

Store Sales Y/Y change
Actual	2.9%
Previous	2.9 %

Highlights
Redbook adds to the list of evidence, reporting a comparatively very strong +2.9 percent same-store year-on-year sales pace in the July 5 week. Redbook said sales were strong across categories. Chain stores will post their specific results on Thursday. Early indications point to a third month of wide strength for non-auto sales in what would lift expectations for second-quarter GDP.