Same-Store Retail Sales Get A Boost

Same-store sales were up 1.1 percent year-on-year in the May 7 week and up 2.5 percent month-over-month, boosted by Mother's Day and school graduation buying of jewelry, cosmetics, flowers, cards and small appliances. The stronger-than-expected results exceeded Redbook's targets of a 0.8 percent gain year-on-year and 2.2 percent gain month-over-month. Looking ahead, Redbook noted that some retailers are planning a somewhat softer second half of May than the first half due to the impact of Memorial Day imbalances, as holiday sales that fell into fiscal May last year are shifted this year to June.