Soft Same Store Retail Growth Reported

Redbook's sample continues to report soft rates of same-store sales growth, at only 1.6 percent year-on-year in the August 15 week. Sales received some boost from the tail end of tax holidays in a number of states. Despite the soft rate of growth, the month-to-month comparison with Redbook's sample in July is favorable and hints at incremental strength for core retail sales in August.