Retail same-store sales rise 1.9% in October
SPY•October same-store sales at independent, predominantly urban retailers rose 1.9% year over year, while unit sales increased 0.7%.
1. Sales growth accelerates
October same-store sales rose 1.9% year over year, accelerating from 0.1% growth in September. Sales growth trailed the 2.2% increase in average prices for the top 500 items; unit sales rose 0.7%, reversing three consecutive months of declines. Transactions per store fell 0.9%, and same-store sales for the three months ended October 31 increased 0.1% from a year earlier.
