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 December 10:
The Johnson Redbook Retail Sales Index was up 2.9% in the second
week of December following a 3.2% gain the prior week. Month-to-date,
December was up 3.1% compared to December of last year (relative to a
target of a 3.6% gain). Month-over-month showed a 2.8% drop compared to
November (relative to a target of a 2.3% drop). December is a five-week
month on the retail calendar, ending on December 31st.
Retailers said they had entered the expected “soft middle” of the
holiday season. The sluggish sales and slow customer traffic seen in the
first week of December carried through most of the second week. Online
shopping remained at a strong pace and increasing popular gift card have
made it easier to people to delay holiday shopping, shifting sales to
the period after the holiday season. Majority of gift card are purchases
during the week before Christmas (gift card sales don’t record the sales
revenue until the cards are used) a trend retailers say is growing over
time. Holiday shopping should be helped by one more day before Christmas
comparing to last year.
** Market News International Washington Bureau (202) 371-2121 **
[TOPICS: M$U$$$,MAUDS$]
