Retail Sales Continue Slow Growth

Same store sales were up 3.3 percent year-on-year in the February 24 week, slowing from the prior week's growth pace by 0.4 percentage points. Month-to-date sales versus the prior month were still down but a tick less than a week ago at minus 0.6 percent, while the full month year-on-year on gain remained unchanged at 3.2 percent, the level for most of the weeks so far this year. Redbook's same store sample shows sales growth reverting to the mean after the prior week's strong acceleration, pointing to moderate strength in ex-auto ex-gas retail sales.