Two weeks do not make a trend, but it is a start
Sales increased year over year for the second week in a row. Sales were up 0.50% over the prior year for week 4 of the 5 week month of September. Interestingly, customer counts were down slightly at -0.18% over the prior year. While this was the first drop in customer counts for the month, September is on track for a positive sales gain month if week five comes in flat or positive. Sales for retail as a whole came in at +0.2% (Not including Gas) according to the Bureau of labor Statistics August Report. The federal reserve has raised rates another quarter point to stave off inflation and prevent an overheating of the economy. However, there appears to be no overheating in the food industry. With the USMCA agreed upon to replace NAFTA, it looks as if the fear of tariffs on goods traded with Canada (including agriculture) is not going to happen.