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 10:
The Johnson Redbook Retail Sales Index was up 3.1% in the first
week of July. Month-to-date, July was up 3.1% compared to July of last
year (relative to a target of a 2.9% gain). Month-over-month showed a
0.4% drop compared to June (relative to a targeted 0.6% drop). July is a
four-week month on the retail calendar ending on July 31st, 2010.
The focus in July, as in the later part of June, is on clearing
seasonal stock. The performance of the week was supported by the July
4th holiday long weekend, which left its imprint in sales of food,
beachwear and outdoor equipment including barbecue grills. The holiday
was one day later than last year, pushing related sales into the
subsequent fiscal week and prolonging buying, according to some
retailers. The weather was also cooperative, as heat waves moved in and
helped to pack air-conditioned malls, and fine summer weather elsewhere
also encouraged outdoor activity, including shopping. Some retailers
were not able to sustain the pace and saw business tail off as the week
progressed. Seasonal goods moved well as stores stepped up clearance
oriented promotions ahead of fall restocking.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
