Retail? Not so much

Released on 6/15/2010 8:55:00 AM For wk6/12, 2010 Prior Actual Store Sales Y/Y change 3.6 % 2.7 %

Highlights Redbook reports a slowing in consumer spending. Year-on-year same-store sales came in at plus 2.7 percent in the June 12 week, down from 3.6 percent in the prior week. The report says traffic is down and warns consumers are cutting back again on discretionary spending. Redbook estimates sales are down 0.5 percent from this time last month indicating another month of trouble for the retail sales report.