Same Store Retail Sales Pick Up Growth Pace

Same store sales were up 4.7 percent year-on-year in the August 18 week, picking up the growth pace by 0.2 percentage points after the prior week's sharp 1.1 percentage point slowdown. Month-to-date sales versus the prior month were up 0.2 percent, while the full month year-on-year gain widened to 4.6 percent, the second strongest reading of the year after the 4.9 percent high posted for the week ending on May 12. Redbook's same store sample sales point to continued strength and moderate acceleration in ex-auto ex-gas retail sales, which in government data released last week for July posted a very strong 0.6 percent monthly gain.