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 June 25:
The Johnson Redbook Retail Sales Index was up 2.5% in the fourth
week of June following a 4.2% gain the prior week. Month-to-date, June
was up 3.5% compared to June of last year (relative to a target of a
3.8% gain). Month-over-month showed a 0.6% gain compared to May
(relative to a targeted gain of 0.9%). June is a five-week month on the
retail calendar ending on July 2nd.
Both department and discount store formats turned in softer
performance following a Father’s Day lull and brought down plan
month-to-date. Retailers noted that heavy rains and flooding, especially
in the North Dakota, Midwest region, forced stores to close and damaged
houses, thereby cutting into retailers’ seasonal business. Some
retailers said their seasonal inventories are slightly higher than they
would prefer at this point in the cycle. However, they continue to
expect clean sell-throughs from hot weather and July 4th promotions as
more consumers are buying according to immediate needs.
Note: Due to the Independence Day holiday, our report next week
will be released on Wednesday, July 5th, instead of on Tuesday. We wish
our readers a happy 4th of July.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
