Same Store Retail Sales Slow, Still On The Rise

Same store sales were up 3.2 percent year-on-year in the October 7 week, slowing sharply by 0.9 percentage points from the prior week. Month-to-date sales versus the prior month were down for the first time in eight weeks and by a steep 1.5 percent, while year-on-year full month sales were up 3.2 percent, off 0.9 percentage points from the prior week's pace and the slowest growth recorded in 7 weeks. The slowdown in same-store sales registered by Redbook's sample of retailers this week is an inauspicious beginning for the year-end quarter and indicates a loss of momentum after the brisk acceleration to the strongest pace in over two years during August and September.