Same Store Retail Sales Growth Remains Flat

Core retail sales have been solid since March, contrary to Redbook's signals which have been flat. Redbook's sample reports year-on-year same-store sales growth of only plus 1.3 percent in the August 29 week. The report notes that this year's Labor Day, which is seven days later than last year, has moved related sales, including back-to-school sales, into September at the expense of August, and especially at the expense of the latest week.