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 July 21:
The Johnson Redbook Retail Sales Index was up 1.3% in the third
week of July following a 1.7% gain the prior week. Month-to-date, July
was up 1.7% compared to July of last year (relative to a target of a
1.8% gain). Month-over-month showed a 1.3% drop (relative to a target of
a 1.2% drop). July is a four-week month on the retail calendar, ending
July 28th.
Sales were below plan in the third week. Some merchants said it was
too hot to shop and that periodic heat waves were keeping people away
from stores; others reported sluggish business and unmotivated consumers
suggesting little more than the usual mid-July doldrums. In the most
recent period, retailers continued to focus on clearing summer goods and
bringing in back-to-school merchandise. Core consumer goods such as food
and household supplies continued to drive sales. Retailers are hoping
that by mid-August the upcoming states tax holidays and back-to-school
demand will motivate consumers and inject some life into shopping.
** MNI Washington Bureau (202) 371-2121 **
[TOPICS: M$U$$$,MAUDS$]
