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 September 11:
The Johnson Redbook Retail Sales Index was up 2.9% in the the
second week of September following a 3.0% gain in the prior week.
Month-to-date, September was up 2.9% compared to September of last year
(in-line with the target). Month-over-month showed a 0.1% drop compared
to August (relative to a target of a 0.2% drop). September is a
five-week month on the retail calendar ending on October 2nd.
The week under review included the Labor Day holiday. As the
back-to-school season approached its peak selling period, most retailers
reported Sunday and Monday that sales growth was positive and within
expectations, but with little effect on the annual growth rate since
last year’s holiday fell on a comparable day in the calendar.
Thereafter, business tailed off sharply in the middle of the week due to
reduced traffic in stores, only to build up slightly into the weekend.
Retailers are stocked up and ready for shoppers to embrace their fall
offerings, but probably not until weather cooperates and the season gets
under way in earnest. Back-to-school activity continued and buyers
nibbled at fall apparel. Elsewhere, however, business was sustained by
basic commodities.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
