Same Store Retail Sales Improve, Still On Low Side

Redbook's sample reports improved same-store sales in the August 1 week but still at a depressed year-on-year rate of plus 1.7 percent. This, however, is the strongest rate in four weeks and compares with an average of plus 1.2 percent in the prior three weeks.

Back-to-school demand lifted apparel sales in the latest week while clearance promotions moved remaining summer goods. The report sees fractional strength for the July to June comparison which hints at a rebound back to the plus column for the ex-auto ex-gas reading of the monthly retail sales report.