Redbook (YoY) 4.2% Vs 2.9% Prior
Portfolio Pulse from Benzinga Newsdesk
The Year-on-Year Redbook index has increased to 4.2% from the previous 2.9%.
August 29, 2023 | 12:55 pm
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POSITIVE IMPACT
The increase in the Redbook index may have a positive impact on SPY as it indicates a stronger retail sector.
The Redbook index measures comparable store sales at chain stores, discounters, and department stores. A rise in the index indicates a stronger retail sector, which could positively impact SPY, an ETF that includes retail companies.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The increase in the Redbook index may have a positive impact on XRT as it indicates a stronger retail sector.
The Redbook index measures comparable store sales at chain stores, discounters, and department stores. A rise in the index indicates a stronger retail sector, which could positively impact XRT, a retail-focused ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90