Same Store Retail Sales Accelerate

Same store sales were up 4.9 percent year-on-year in the May 12 week, accelerating by 0.7 percentage points from the prior week to the fastest growth pace since December. Month-to-date sales versus the prior month were up 0.8 percent, matching last week's reading as the strongest of the year, while the full month year-on-year gain surged by 1.6 percentage points to 4.9 percent, the strongest pace in more than 3 years. Retailers in Redbook's same store sample have reported sharp sales growth acceleration for 3 weeks in a row, pointing to a strong revival of strength in ex-auto ex-gas sales following several weeks of moderation in earlier April weeks.