Same Store Retail Sales Pace Slows

Growth of same-store sales slowed by 0.9 percentage points to 2.9 percent year-on-year in the March 10 week, posting the slowest pace in four weeks. Month-to-date sales versus the prior month were down 0.3 percent, while the full month year-on-year gain slowed by 0.5 percentage points to 2.9 percent, just a tick above the lowest reading of the year. Sales for Redbook's same store sample have fluctuated in recent weeks, pointing to some loss of momentum although still solid ex-auto ex-gas retail sales.