Retail Sales Rose 1.7 Percent in October
Same-store retail sales posted growth of 1.7 percent in the month of October, according to Kantar Retail's monthly statistical measure. While a gain, the number represented smaller growth than September's 2.8 percent gain and the 2.3 percent rise in October of last year.
The numbers measure 31 major retailers.
“It’s not surprising that retail spending eased up in the face of year-ago comparison periods that were tougher for many retailers and warm October weather that discouraged clothing purchases,” Frank Badillo, Kantar's senior economist, said in the release. “Improving spending intentions among shoppers should ensure that sales growth does not sag too much as the year-ago comparison periods get even tougher into November and December.”