Same Store Retail Sales Accelerate Again

Same store sales were up 5.6 percent year-on-year in the August 4 week, accelerating by 1.4 percentage points from the prior week to the strongest pace since December. Month-to-date sales versus the prior month were up a sharp 0.9 percent, while the full month year-on-year gain widened by 0.5 percentage points to 4.2 percent. After a brief but sharp retreat from the previous peak at 5.2 percent set in the July 7 week, Redbook's same store year-on-year sales gain has surged back to post a new high for the year, pointing to strong acceleration in ex-auto ex-gas retail sales.