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 Juky 7:
The Johnson Redbook Retail Sales Index was up 2.2% in the first
week of July. Month-to-date, July was up 2.2% compared to July of last
year (relative to a revised target of a 1.8% gain). Month-over-month
showed a 0.8% drop (relative to a target of a 1.2% drop). July is a
four-week month on the retail calendar, ending July 28th.
The week includes Wednesday, the Independence Day holiday, which
left its imprint in sales of food and outdoor equipment including lawn
furniture and barbecue grills. Due to hot weather throughout the
country, seasonal goods moved well as stores stepped up clearance
orientated promotions ahead of fall restocking. Meanwhile, the focus in
July, as in the latter part of June, is on clearing seasonal merchandise
to make room for early fall presentations. Sales performance is driven
by discounting and can vary sharply from week to week depending on
individual store promotions, markdown levels and the availability of
selected goods, which may be a limiting factor this year, given the
early strong start to the season and tighter inventory management.
** MNI Washington Bureau (202) 371-2121 **
[TOPICS: M$U$$$,MAUDS$]
