Same Store Retail Sales Rise, Decelerate From Previous Week

Same store sales were up 3.2 percent year-on-year in the May 19 week, decelerating sharply by 1.7 percentage points from the prior week's fastest growth pace of the year. Month-to-date sales versus the prior month were unchanged, down 0.8 percentage points from last week and the weakest reading since March 17, while the full month year-on-year gain shrank by 0.9 percentage points to 4.0 percent. Retailers in Redbook's same store sample reported a sharp pullback in sales in the week following 3 weeks of sharp acceleration, pointing to less robust ex-auto ex-gas retail sales.