Same Store Retail Sales Continue Deceleration

Same store sales were up 6.6 percent year-on-year in the December 8 week, extending the previous week's deceleration from the strongest growth pace in over 12 years by another 0.4 percentage points. Month-to-date sales versus the prior month were down 0.5 percent, matching the weakest reading since the week of June 23, while the full month year-on-gain shrank by 0.2 percentage points from the prior week to 6.6 percent. Despite 2 weeks of slowing at the start of the key holiday sales season, Redbook's same store year-on-year sales gains have remained the strongest in more than a decade since September and point to solid strength in ex-auto ex-gas retail sales.