Same Store Retail Sales Accelerate To Third Fastest Pace Of Year

Same store sales were up 4.4 percent year-on-year in the June 30 week, nearly erasing the prior week's slump by accelerating 1.3 percentage points to match the third fastest growth pace of the year. Although month-to-date sales versus the prior month were still in negative territory at minus 0.4 percent, the full month year-on-year gain grew by 0.1 percentage points from the prior week to 4.1 percent. The quick return to 4 percent plus year-on-year sales growth seen in Redbook's sample during the weeks leading up to the previous week's deceleration points to a resumption of strong gains in ex-auto ex-gas retail sales.