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 13:
The Johnson Redbook Retail Sales Index was up 4.7% in the second
week of August following a 4.8% gain the previous week. 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 0.6% 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.
The tail-end of state tax-free holidays including Sunday August 7th
helped propel traffic and sales. At this point in their respective
calendars, most retailers are seeing business generally balanced between
summer clearance and back-to-school/fall buying, although clearance
activity is expected to decline rapidly over the next few weeks
depending on individual transition programs. As the school year nears,
sales appear to be slightly above target year-to-ate, although the
impact will be easier to assess next month as consumers are increasingly
buying closer to need. Some retailers claimed that last week’s hot
weather cut into back-to-school apparel sales as shoppers were reluctant
to buy fall clothing.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
