ICSC-Goldman Store Sales
Released on 11/10/2009 7:45:00 AM For wk11/7, 2009
Prior Actual
Store Sales – W/W change 0.1 % -0.1 %
Store Sales – Y/Y 1.9 % 2.9 %
Highlights
ICSC-Goldman’s same-store retail index ended six straight weeks of gains, down 0.1 percent in the Nov. 7 week to mask a plus 2.9 percent year-on-year rate that’s the best since August last year. ICSC, which stands for the International Council of Shopping Centers, often conducts special surveys, and their latest indicates that shoppers plan to put off holiday shopping until the Friday after Thanksgiving, which the report said is now being dubbed “Bargain Friday” instead of “Black Friday,” the latter referring to the first day of retailer profitability. The report, as others, expects year-on-year rates to continue to improve as retailers lap comparisons with last year’s deep recession. Redbook will post their results at 8:55 ET.
Redbook
Released on 11/10/2009 8:55:00 AM For wk11/7, 2009
Prior Actual
Store Sales Y/Y change 0.9 % 1.7 %
Highlights
Year-on-year rates are definitely on the increase in the retail sector which is beginning to benefit from easy comparisons against last year’s deep recession. Redbook reports a plus 1.7 percent year-on-year rate in the Nov. 7 week, the best since September last year. ICSC-Goldman, issued earlier this morning, shows the best year-on-year rate since August last year. But what this means for the month-to-month comparison is uncertain. Redbook’s first take on October vs. November is very positive, showing a 4.3 percent gain but one a little weaker than the targeted 4.8 percent gain. Redbook says retailers are promoting hard trying to make each day a “Black Friday” with deep discounts and early holiday displays.