WASHINGTON (MNI) – The following is the text of the weekly retail
sales report released by Johnson Redbook Tuesday, for the
month-to-date through the week-ended January 28:
The Johnson Redbook Retail Sales Index was up 2.0% in the fourth
and final week of January following a 2.5% gain in the previous week.
Month-to-date, January was up 2.7% compared to January of last year
(relative to a target of a 2.9% gain). Month-over-month showed a 1.8%
drop compared to December (relative to a target of a 1.6% drop).
Sales were slightly below plan for the month with warmer than usual
weather, especially in the Northeast region, driving demand for spring
merchandise. Stores saw brisk turnover in spring apparel and other
seasonal goods. Business was also helped by stepped up markdowns and
other promotional events built around spring launches. Discount stores,
which are less dependent on markdown cycles than department stores, have
shown steadier results over the course of the month in consumer staples.
Looking ahead, February is a four-week month on the retailer calendar
ending on February 25th and is the start of the fiscal year for most
retailers. The month contains two major events: Valentine’s Day and
President’s Day. Our preliminary target is for year-over-year same store
growth of 2.8%. This would generate a month-over-month change versus
January of a 1.5% gain. This target may be revised in next week’s
report. Retailers officially report January sales on Thursday and we
plan as usual to release the Redbook Same-store Sale Index that morning.
** Market News International Washington Bureau (202) 371-2121 **
[TOPICS: M$U$$$,MAUDS$]
