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 20:
The Johnson Redbook Retail Sales Index was up 3.6% in the third
week of August following a 4.7% gain the previous week. Month-to-date,
August was up 4.4% compared to August of last year (relative to a target
of a 4.6% gain). Month-over-month showed a 0.2% gain compared to July
(relative to a target of a 0.4% gain). August is a four-week month on
the retail calendar, ending on August 27th.
People continue to postpone their purchases closer to the time of
actual need as students want to see what other students are wearing
before buying clothes. Apparel sales are holding up well in the south
and other regions where school started earlier. Cooler weather in parts
of the country helped with sales of back-to-school and fall seasonal
apparel. Retailers are driving sales through price reductions, putting
pressure on profit margins. As noted before, back-to-school judgment
will be much easier to assess in September when the summer to fall
seasonal transition is largely complete before retailers begin
positioning themselves for the holiday period.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
