Same Store Retail Sales Surge

Same store sales were up 4.2 percent year-on-year in the May 5 week, surging by another 0.7 percentage points after similar acceleration in the prior week to post the second fastest pace of the year. Month-to-date sales versus the prior month were up 0.8 percent, the strongest weekly reading of the year, while the full month year-on-year sales gain rose 0.3 percentage points to 3.3 percent. Retailers in Redbook's same store sample have reported strong sales gain acceleration in the last two weeks, pointing to a revival of strength in ex-auto ex-gas retail sales following doldrums in earlier April weeks.