Same-Store Retail Sales Continue Very Slow Growth

Redbook's sample continues to report very low rates of same-store year-on-year sales growth, at 1.7 percent in the August 22 week. Redbook notes that this year's later Labor Day may be delaying back-to-school purchases as is the general consumer trend of making purchases closer to actual time of need. Despite the softness, August is shaping up well compared to July with Redbook calling for a 0.3 percent month-to-month gain which points to modest strength for core retail sales in August.