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 November 20:
The Johnson Redbook Retail Sales Index was up 2.5% in the third
week of November following a 2.7% gain in the prior week. Month-to-date,
November was up 2.6% compared to November of last year (relative to a
targeted 2.9% gain). Month-over-month showed a flat reading compared to
October (relative to a target of a 0.3% gain). November is a four-week
month on the retail calendar, ending on November 27th.
Sales slipped a little compared to the prior week largely due to
the normal tendency of shoppers holding off and waiting for the upcoming
deep promotions of Black Friday and Cyber Monday. Several retailers
reported an improvement in the last few days of the week, especially
over the weekend, and generated positive momentum for the final week of
the month. As the holiday season gets under-way in earnest beginning on
Black Friday, many retailers are planning to extend hours and open
Thanksgiving day in order to placate shoppers. Gross margins should
continue to be pressured by an increase in markdowns.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
