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 6:
The Johnson Redbook Retail Sales Index was up 2.6% in the first
week of November. Month-to-date, November was up 2.6% compared to
November of last year (relative to a revised targeted of a 2.9% gain).
Month-over-month showed flat 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.
The latest week, including last minute Halloween related shopping,
gave a lift to sales. Several retailers, however, also said business was
relatively soft as people focused on the elections. Meanwhile, holiday
merchandise sales are beginning to be displayed in stores as retailers
are promoting earlier than usual. Some stores are already in a rush to
cut prices and are extending store hours. November ends with the
official start of the holiday season, which falls in the final week.
November is a transitional month in which retailers clear unsold fall
merchandise and prepare for the holiday season. More importantly, the
month is significantly back loaded with most business contributed in the
last two days following Thanksgiving.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
