Same-Store Retail Sales Growth Steady

Rates of year-on-year same-store sales growth are roughly even so far this month for Redbook's retail sample, at 4.9 percent in the July 20 week and following 4.7 percent and a very strong 6.2 percent in the prior two weeks. These results are hinting at another positive month for ex-auto ex-gas sales which in the June retail sales report surged a monthly 0.7 percent.