June 10 - Rising temperatures in May brought a foretaste of summer and shoppers responded. The month had it all - nice weather, holidays and retail discounting. The Thomson Reuters Same-Store Sales (SSS) Index actual result for May showed a strong gain of 4.8 percent, above the final estimate of 3.7 percent. Excluding the drugstore sector, the SSS growth rate increased to 5.6 percent, beating the 4.7 percent final estimate.
The May numbers were significantly better than those of wet and chilly April, when the Thomson Reuters SSS index gained 2.2 percent and 4.3 percent, excluding drug. And it was the best showing since November, when the index posted a 6.9 percent rise.
In addition, a rising stock market and higher home prices gave retail customers more confidence about the future. The Thomson Reuters/University of Michigan Surveys of Consumers showed that in May consumers reported their most improved financial situation in more than five years. The Consumer Sentiment Index stood at 84.5, up from 76.4 in April and 79.3 in May 2012 and the highest level recorded since July 2007.
Read more: http://alphanow.thomsonreuters.com/2013/06/warm-weather-heats-up-same-store-sales/