Same Store Retail Sales Growth Slows

Same store sales were up 5.8 percent year-on-year in the January 26 week, decelerating by 1.2 percentage points from the prior week to the slowest pace since September. Month-to-date sales versus the prior month were down 1.8 percent, the weakest reading in nearly a year, while the full month year-on-year gain shrank by 0.3 percentage points to 6.5 percent. Though still strong, Redbook's same store year-on-year sales growth has slowed significantly from the 9 percent pace seen at year end, pointing to moderation in ex-auto ex-gas retail sales.