Same-Store Retail Sales Growth Held Back By Weather

The severe snowstorm that hit the Mid-Atlantic and Northeast held down same-store sales growth in the January 30 week, to plus a year-on-year 0.8 percent. This is the lowest weekly reading since October and, together with the 1.2 percent rate for the whole month, hints at another month of trouble for the government's retail sales report. But the report focuses not on January but on February where it sees year-on-year sales finishing at a more respectable 1.4 percent. The major events for February are the Super Bowl, Valentine's Day, and President's Day.