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 Jan. 15:
The Johnson Redbook Retail Sales Index was up 2.5% in the second
week of January following a 2.8% gain the prior week. Month-to-date,
January is up 2.7% compared to January of last year (relative to a
target of a 2.6% gain). Month-over-month showed a 0.6% drop compared to
December (relative to a target of a 0.7% drop). January is a four-week
month on the retail calendar ending on January 29th.
Sales cooled off somewhat in the second week. Cold and inclement
weather kept shopper at home and consumers’ appetite for clearance
bargains seemed to have been at least partially satiated. Meanwhile,
sales leader lists varied widely from store to store, fairly typical of
a transitional, trend-less promotion driven month. Year-end clearances
dominated sales activity, and soft goods continue to outperform hard
goods, with cold weather driving demand for winter outerwear and
accessories. Department stores are typically volatile in January as they
work through the annual clean out of winter inventory and drive sales by
pricing and advertising.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
