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 14:
The Johnson Redbook Retail Sales Index was up 2.7% in the second
week of August following a 3.0% gain the prior week. Month-to-date,
August was up 2.8% compared to August of last year (in-line with the
target). Month-over-month showed a 1.0% gain compared to July (also
in-line with the target). August is a four-week month on the retail
calendar ending on August 28th.
The tail end of state tax-free holidays including Sunday, August
8th helped propel traffic and sales in 12 states including: Alabama,
Florida, Illinois, Maryland, Massachusetts, Missouri, New Mexico, North
Carolina, Oklahoma, South Carolina, Tennessee and Virginia. At this
point in the calendar, 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. The slight
slowdown during the week may have been due to the hot weather cutting
into sales as shoppers were reluctant to buy fall clothes; as well as
the growing trend of consumers purchasing back-to-school clothing as
they need them rather than ahead of time.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
