Retail sales are showing signs of improvement even as the cash for clunkers hangover wears off. ICSC’s same store sales report jumped 1% year over year. This is the best reading in almost a year excluding the 1.6% reading in early September. 40 retailers will report their sales on Thursday.
Redbook continues to show signs of improvement as well. The exclusion of WalMart earlier this year has been making for difficult comps. All in all, the improvement is marginal, but steady since the deep lows of early 2009. Econoday reports:
Redbook reports strength in store sales with its same-store tally pointing to a 0.4 percent month-to-month rise in September. This call points to a gain for the ex-auto ex-gas category of next week’s retail sales report from the Commerce Department, a gain that would offset what seems certain to be a steep overall decline tied to the end of cash-for-clunkers. Redbook’s specific tally for the Oct. 3 week shows a 1.9 percent year-on-year decline, the best reading since early summer when the removal of Wal-Mart from Redbook’s sample corresponded with a steep move lower in the report’s readings.