Same-Store Retail Sales Stronger

Same-store sales in Redbook's sample were up 0.6 percent in the August 27 week, posting the best year-on-year weekly gain in six weeks following two back-to-back weekly gains of only 0.2 percent that were the weakest in the recovery. Month-to-date year-on-year sales picked up a tick from the prior week for a 0.4 percent gain, and were down 0.3 percent versus July, also a 0.1 percentage point improvement. Despite the welcome pick up in pace, today's results still point to a second month of trouble for the ex-auto ex-gas reading of the August retail sales report which slipped 0.1 percent in July.