The latest read from Redbook on retail store sales indicates that sales are up 1.2% Y/Y through the first 26 days of the month. Redbook expects a 1.4% gain for the month.
Department stores reported strength in gift merchandise, including small appliances, accessories and cold weather apparel. The level of discounting in the sector will have a large impact on how Q4 earnings play out.
Previously: Redbook Chain Store Sales: +2.2% (Nov. 29)
Now read: Let Macy's Cool Off Before Buying »