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 January 21:
The Johnson Redbook Retail Sales Index was up 2.5% in the third
week of January following a 2.8% gain in the previous week.
Month-to-date, January was up 2.9% compared to January of last year
(in-line with the target). Month-over-month showed a 1.6% drop compared
to December (also in-line with the target). January is a four-week month
on the retail calendar, ending on January 28th.
The extended Martin Luther King Jr holiday at the beginning of the
week offered additional opportunities to clear remaining winter
inventories, but did not appear to contribute much additional sales
momentum. Meanwhile, winter storms toward end of the week, particularly
in the pacific northwest and northeast regions, kept people at home and
thinned out store traffic. The cold weather, however, had a mixed effect
since it also encouraged shoppers to purchase winter apparel since most
winter inventory is on clearance. This type of business did not
necessarily translate into higher margins, but it did momentarily
improve sales performance. Apparel and other seasonal soft lines ranked
high on volume leader lists as retailers sold where they were
discounting. Retailers are already moving in Valentine’s Day and some
spring merchandise ahead of schedule.
** Market News International Washington Bureau (202) 371-2121 **
[TOPICS: M$U$$$,MAUDS$]
