WASHINGTON (MNI) – The following is the text of the weekly retail
sales report released by Johnson Redbook Wednesday, for the
month-to-date through the week-ended October 27:
The Johnson Redbook Retail Sales Index was up 1.8% in the fourth
and final week of October following a 1.3% gain the prior week.
Month-to-date, October was up 1.6% compared to October of last year
(relative to a target of a 1.9% gain). Month-over-month showed a 1.6%
drop (relative to a target of a 1.4% drop).
Stores were reporting improved sales for the week, supported by
Halloween shopping and stocking up ahead of Hurricane Sandy. The
hurricane helped certain retailers as customers made a run on food,
water, batteries and other emergency supplies, ramping up business at
stores which stock these kinds of staples. Discount stores were the main
beneficiaries, and mostly ran ahead of plan over the week. Looking
forward, November is a four-week month on the retail calendar ending on
November 24th and includes Halloween, Election Day, Veterans Day and
Thanksgiving. The main shopping event, Thanksgiving, falls in the final
week of the month as it did last year, meaning there will be no calendar
distortion. Our preliminary target for November is for 2.1%
year-over-year same-store sales growth, generating a month-to-month gain
of a 0.6% gain; this target may be revised in next week’s report. Stores
report October sales on Thursday, November 1st, and Redbook will issue
our usual Johnson Redbook Same-store Flash Report that morning.
** MNI Washington Bureau (202) 371-2121 **
[TOPICS: M$U$$$,MAUDS$]
