Same Store Retail Sales Stagnant

This morning's retail sales report has not raised the outlook for consumer spending, underscored by another very soft Redbook report where the same-store year-on-year rate is at only plus 0.6 percent in the March 12th week. Commentary in the report is mixed, which is not a sign of strength, though sales are expected to pick up in the second half of the month thanks to St. Patrick's Day and this year's early Easter.