UPDATE: January Retail Sales Solid Despite Headlines - Gordon Haskett

(updated to expand analyst comment)

Gordon Haskett commented on today's Retail Numbers with headlines coming in below views.

Analyst Chuck Grom said "don't let the headline fool you; January Retail Sales solid, up 5.1% YOY, accelerating 230 bps on the Stacks." The analyst notes that on an adjusted YoY basis, the January report is more in-line with the retailers report according to a morning research note. Grom notes that January Retail Sales were favorable having rose 5.1% YoY which ahead of the 12-month average at 4.4%. Further that analyst wrote that the strength of the report was not merely a function of easier comps as 2-year trends are accelerating across the board.

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