Same Store Retail Sales Continue Pullback

Same store sales were up just 2.3 percent year-on-year in the November 11 week as sales gains shrank by another 0.3 percentage points in a continuation of the pullback from September's plus 4 percent growth readings, the strongest since 2015. Month-to-date sales versus the prior month were down 1.2 percent, posting the sixth consecutive negative reading for Redbook's same store sample, while full month year-on-year sales fell back to a still respectable 2.4 percent gain, giving up another 0.2 percentage points after the prior week's 0.9 percentage point drop. October initiated a gradual loss of the August-September sales growth momentum that was the strongest in over 2 years for Redbook's same store sample, and the slowdown hints at the slackening of core retail sales during the key last quarter.