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 Jun 12:
The Johnson Redbook Retail Sales Index was up 2.7% in the second
week of June following a 3.6% gain the prior week. Month-to-date, June
was up 3.1% compared to June of last year (relative to a target of a
3.2% gain). Month-over-month showed a 0.5% drop compared to May
(relative to a targeted 0.3% drop). June is a five-week month on the
retail calendar ending on July 3rd.
General merchandise and apparel sales in general under performed
basic goods, but retailers said weather fluctuations were less of a
factor than a general decline in customer traffic and a lower propensity
for spending, suggesting consumers were reducing discretionary purchases
and being more defensive in their buying pattern. In this environment,
discount stores did best in food and household goods. June is a critical
month for retailers, representing the peak of seasonal business ahead of
traditional July clearance sales.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
