Redbook and ICSC same store sales data came in positive for the week, but are beginning to show some softness and signs that consumers remain hesitant to spend.

Redbook reported year over year gains of 0.8% and month over month sales of -1.5%. The year over year gains were the lowest since October. Weekly sales reported by ICSC were also weak. Year over year sales were up 0.4% while weekly gains came in at just 0.1%.

Retail sales were soft in the last week of January, as limited clearance inventory and unseasonable weather left bargain-hunting consumers with little reason to shop. As retailers close out their fiscal year, they are looking ahead to next month where they hope events such as the Super Bowl, Valentine’s Day and Presidents Day will spur increased consumer activity.

The International Council of Shopping Centers (ICSC) reported that chain store sales for the week ending Jan 30th increased a slight 0.1% from the prior week as volatility continues on low volume, while sales were up 0.4% from the year-ago period. January was characterized by wild week-to-week swings, the result of a low-volume month dominated by clearance activity and weather fluctiations. ICSC expects January comp-store sales to be up about 1% from last year.

A load of economic numbers were reported on the first day of the new month. Depending on how you look at the results will also depend on if you find them encouraging or not.

The spending component came in lower than expected. This could continue to put a damper on retail sales. In fact, the Retail-Holders ETF (RTH) was down after the release, even as markets rallied. On the flip side is the good news that personal income is up and beat expectations.