Same Store Retail Sales Pick Up Slightly

Same store sales were up 3.0 percent year-on-year in the April 14 week, picking up just a tick following the prior week's sharp deceleration from the strongest pace of the year. Month-to-date sales versus the prior month were up 0.5 percent, the strongest reading since July 2017, but the full month year-on-year gain shrank by 0.4 percentage points to 3.0 percent, the weakest pace in five weeks. The moderation in year-on-year sales growth reported by Redbook's same store sample over the last two weeks points to less robust ex-auto ex-gas retail sales.