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 February 11:
The Johnson Redbook Retail Sales Index was up 2.7% in the second
week of February following a 2.5% gain in the prior week. Month-to-date,
February was up 2.6% compared to February of last year (relative to a
target of a 2.8% gain). Month-over-month showed a 1.3% gain compared to
January (relative to a target of a 1.5% gain). February is a four-week
month on the retail calendar, ending on February 25th. Sales during the
week were driven by a combination of factors, including: Valentine’s day
promotions such as candy, flowers, cosmetics, jewelry and selected
women’s apparel as well as continuing clearance of winter merchandise.
At the beginning of the week some retailers noted customer traffic
and sales slowed on Sunday due to the Super Bowl as shoppers’ attention
was diverted. Sales did, however, pick up modestly toward the end of the
week as Valentine’s Day approaches. Valentine’s day is one day later
than last year, pushing some related sales into the subsequent fiscal
week and prolonging related purchases according to some retailers.
Meanwhile, February is typically a small month with thin volume made
volatile by spring transitions and individual promotional events.
** Market News International Washington Bureau (202) 371-2121 **
[TOPICS: M$U$$$,MAUDS$]
