Same Store Retail Sales Continue Bounce Back

Same store sales were up 4.2 percent year-on-year in the July 28 week, extending the prior week's bounce back by 0.4 percentage points to regain about half of the pace lost in the sharp deceleration registered two weeks ago. Month-to-date sales versus the prior month were up 0.5 percent, the strongest reading for this comparison since the May 12 week, while the full month year-on-year gain widened by 0.2 percentage points to 3.7 percent. Redbook's same store sales comparisons are bouncing back and remain solid though weaker than they were in June and early July, pointing to moderation in ex-auto ex-gas retail sales.