Same Store Retail Sales Accelerate

Same store sales were up 5.2 percent year-on-year in the July 7 week, accelerating by 0.8 percentage points from the prior week's pace to post the strongest gain since December 23. Month-to-date sales versus the prior were still in negative territory but the decrease narrowed by 0.2 percentage points to minus 0.2 percent, while the full month year-on-year gain rose by 0.2 percentage points to 4.3 percent, matching the third highest level of the year. The strongest year-on-year growth pace of the year for Redbook's same store sample confirms that the slowdown seen 2 weeks ago was momentary and points to strength in ex-auto ex-gas retail sales.