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 25:
The Johnson Redbook Retail Sales Index was up 2.5% in the fourth
week of September following a 2.2% gain in the prior week.
Month-to-date, September was up 2.6% compared to September of last year
(relative to a target of a 2.9% gain). Month-over-month showed a 0.4%
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.
Retailers reported mixed results for the week, with pockets of
relative strength combining with weakness, but the overall effect was
below plan month-to-date as consumers continued to shun cool weather
merchandise due to warm weather. Soft lines, especially seasonal
apparel, were hit hardest. Discount stores held up on their broader
merchandise bases, suggesting sales driven by every day domestic demand
in the absence of a clear seasonal or other trend. Stores reported
modest business in Halloween merchandise. Some retailers said shopping
for the event starts earlier and generates more sales volumes each year.
With back-to-school programs now largely completed, most stores reported
better than expected sales on school supplies as well as youth and
children’s apparel although profit margins have been hit by deep
discounting.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
