Same Store Retail Sales Show Slight Uptick

Same store sales were up 3.7 percent year-on-year in the February 17 week, a 0.9 percentage point acceleration from the prior week's growth pace and the strongest reading in four weeks. Month-to-date sales versus the prior month were still down at minus 0.7 percent but the decline shrank by 0.4 percentage points from the prior week, while the full month year-on-year gain recovered the prior week's slowdown to stand at 3.2 percent again. The sales rebound reported in the week by retailers in Redbook's same store sample suggests returning strength after the softness indicated for ex-auto ex-gas retail sales in recent weeks.