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 July 30:
The Johnson Redbook Retail Sales Index was up 4.5% in the fourth
and final week of July following a 3.5% gain the prior week.
Month-to-date, July was up 4.3% compared to July of last year (relative
to a target of a 4.4% gain). Month-over-month showed a 0.5% drop
compared to June (relative to a target of a 0.4% drop).
As in the earlier part of the month, the final week saw steady
sales of summer goods. Since July is a clearance month, and retailers
sometimes have promoted heavily to drive sales, they point out that
elevated volumes do not automatically imply strong margins.
Nevertheless, most appear to be satisfied with their clearance programs
and indicate that they are making smooth inventory shifts into the new,
fall season. In certain cases, retailers are noticing a firmer tone in
sales toward the weekend, especially in apparel, which they attribute to
favorable weather conditions and beginning of the back-to-school demand.
Looking forward, August is a four-week month ending Saturday, August
27th. Our preliminary target for August is 4.6% same-store growth, which
would generate a 0.6% month-to-month comparison to July. This target
will be finalized in next week’s report. Retailers officially report
July sales on Thursday and we plan as usual to release our Johnson
Redbook Same-store Sales Index that morning.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
