Store sales for the week ending December 28 were stronger than expected and were fueled by last-minute promotions. These promotions were a boost for sales, but came at the expense of profit margins. The store sales reports cite strength at department stores and discounters but weakness at electronics stores and apparel stores.
The ICSC-Goldman store sales index was up 3.0% year over year for week, an increase from the 2.7% it was up Y/Y the week prior.
The Redbook store sales index was up 4.5% year over year, an increase from the 3.9% it was up Y/Y the week prior.