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An explanation of the 53-week year

from National Retail Federation

Dividing the retail calendar into 52 weeks of seven days each, or 364 days, leaves an extra day each year to be accounted for. As a result every five to six years a week is added to the fiscal calendar. During the last few years this anomaly has occurred in FY'00, FY'06, FY'12 and will occur in FY'17. more

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