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 May 29:
The Johnson Redbook Retail Sales Index was up 2.5% in the fourth
and final week of May following a 2.0% gain the prior week.
Month-to-date, May was up 2.7% compared to May of last year (relative to
a target of a 3.0% gain). Month-over-month showed a 0.3% gain compared
to April (relative to a targeted 0.6% gain).
Our model ended the month below target. Sales faced difficult
comparisons against last year’s Memorial Day sales. Some retailers
reported strength in merchandise related to school graduation such as
men’s wear, footwear, women’s wear and women’s accessories. Discounters
showed strength in food and beverages before heading to the Memorial Day
long weekend. Our preliminary plan for June is for year-over-year growth
of 3.5% leading to a month-to-month flat reading. This target will be
finalized in next week’s report. Retail June is a five-week month ending
on July 3rd. Retailers officially report May 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$]
