Same Store Retail Sales Increase With Slowest Growth Rate Since April

Same store sales were up 3.1 percent year-on-year in the June 23 week, decelerating sharply by 1.6 percentage points from the prior week to the slowest growth pace since mid-April. Month-to-date sales versus the prior month were down 0.5 percent, the weakest reading since the March 3 week, while the full month year-on-year gain fell to 4.0 percent, the slowest pace in five weeks. Though it may be transitory, the week's deceleration after several weeks of 4 percent plus year-on-year sales gains in Redbook's same store sample points to a weakening of previous strength in ex-auto ex-gas retail sales.