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 April 3:
The Johnson Redbook Retail Sales Index was up 5.2% in the fifth and
final week of March following a 4.4% gain the prior week. Month-to-date,
March was up 3.9% compared to March of last year (relative to a target
of a 3.7% gain). Month-over-month showed a 1.5% gain compared to
February (relative to a targeted 1.3% gain).
The week’s performance was helped by better weather and pent-up
demand, on top of the Easter boost. Most retailers were satisfied with
their business and with customer’s response to spring merchandise. As
noted before, this high growth rate also reflects an upward bias from
the earlier placement of Easter this year. April is expected to show a
corresponding downward bias. Retailers recommend withholding judgment on
the season until the end of this month when March and April can be
assessed as a single accounting unit. Our preliminary target for April
is for year-over-year same store growth of 3.1%. This would represent a
month-to-month change versus March of -1.6%. This target will be
finalized in next week’s report. Retailers officially reported March
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$]
