Same-Store Retail Sales Show Strong Weekly Gain

Same-store sales rose year-on-year by a very strong 1.2 percent in the October 1 week, posting the largest weekly gain on the year-ago week since March 26 after wallowing at a sluggish 0.2 percent annual pace during the previous 2 weeks. Month-to-date versus the previous month, same-store sales in Redbook's sample were down 0.4 percent, but were up 0.6 percent for the full month versus a year ago. The sharp gain versus the year-ago week may point to a possible turnaround in core retail sales, which have been very sluggish in the last two months.