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 August 6:
The Johnson Redbook Retail Sales Index was up 4.8% in the first
week of August. Month-to-date, August was up 4.8% compared to August of
last year (relative to a target of a 4.6% gain). Month-over-month showed
a 0.7% gain compared to July (relative to a revised target of a 0.4%
gain). August is a four-week month on the retail calendar, ending on
August 27th.
Sales were boosted by eleven states sales tax holidays and
midsummer weather conditions over most of the country. Seasonal goods
also moved well as stores stepped up clearance-oriented promotions.
Back-to-school business has been showing up in general merchandise
shopping patterns since early July, albeit on a modest scale. Last week
was no exception, as children’s and teenage apparel mingled with more
clearance-oriented classifications at some companies led the week’s
business. August is typically a somewhat transitional month,
characterized by final summer clearances and the shift in inventory to
back-toschool merchandise and fall apparel. Back-to-school is not
expected to peak until September.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
