CLIENT ALERT January 2007 will be a five-week, rather than four-week, reporting period. Our 4-4-5 Retail Calendar (for North America only) measures out 12 reporting periods of four or five weeks, spanning 364 days per year -- one day short of the calendar year of 365 days. The consequence is that the reporting periods drift backward on the calendar by approximately one day per year. This requires a "leap week" to be added to the January reporting period (typically a four-week period) every five to six years in order to preserve the seasonal integrity of the months. The January 2007 reporting period will include the required "leap week" and will therefore be a five-week month. This adjustment is consistent with the NRF's published retailer calendar. The January 2008 reporting period will return to a four-week duration.
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