Same Store Retail Sales Show Moderate Strength

Same store sales were up 3.2 percent year-on-year in the January 27 week, slowing from the prior week's pace by 0.6 percentage points. Month-to-date sales versus the prior month were unchanged, while the full month year-on-year gain decreased by 0.1 percentage points to 3.2 percent. The cooling in this week's Redbook same store sales resumes the early January deceleration from the exceptional strength at year end, when the year-on-year sales gain reached a 3-year high, and points to moderate strength in ex-auto ex-gas retail sales for January.