WASHINGTON (MNI) – The following is the text of the weekly retail
sales report released by Johnson Redbook Wednesday, for the
month-to-date through the week-ended December 1:
The Johnson Redbook Retail Sales Index was up 2.1% in the first
week of December. Month-to-date, December was up 2.1% compared to
December of last year (relative to a target of a 2.6% gain).
Month-over-month showed a 0.3% drop (relative to a target of a 0.2%
gain). December is a five-week month on the retail calendar, ending on
December 29th.
The first week fell short of plan. Retailers described the week as
a lull that began the weekend after a hectic, for some, post
Thanksgiving surge, but noted that the pause was typical of the first
week of December and would likely be followed by an equally predictable
steady buildup towards Hanukkah and Christmas. Retailers said the
Hanukkah celebration falls on the 8th of December, ten days earlier this
year than last year, on the retail calendar, which will provide some
holiday related shopping momentum. December is a lopsided month, with a
disproportionate volume of sales delivered in the week before Christmas.
This pattern has intensified as customers have continued to shop at the
last minute in order to exploit merchant markdowns. Meanwhile, most
retailers following the NRF 4-5-4 retail calendar will have two extra
pre-Christmas shopping days this December versus last year, which is
expected to have an appreciable positive impact.
** MNI Washington Bureau (202) 371-2121 **
[TOPICS: M$U$$$,MAUDS$]
