Same Store Retail Sales Slow Sharply

Same store sales were up 4.6 percent year-on-year in the February 9 week, sharply decelerating by 1.1 percentage points to the slowest pace in 8 months. Month-to-date sales versus the prior month were down 1.8 percent, while the full month year-on-year gain shrank by 1.7 percentage points to 4.6 percent, the lowest reading since early September. Redbook's same store year-on-year sales growth has slowed by half from the torrid 9.3 percent pace seen at year end, indicating substantial moderation in ex-auto ex-gas retail sales.