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 December 24:
The Johnson Redbook Retail Sales Index was up 4.3% in the fourth
week of December following a 3.4% gain the prior week. Month-to-date,
December was up 3.5% compared to December of last year (relative to a
target of a 3.6% gain). Month-over-month showed a 2.4% drop compared to
November (relative to a target of a 2.3% drop). December is a five-week
month on the retail calendar, ending on December 31st.
Retailers said much the week’s business was done on the day of
Christmas eve as shoppers flocked to stores for last minute shopping.
Meanwhile, with unseasonably warm temperatures across much of the
country, sales of winter apparel were slow. Some retailers have
selectively marked down outerwear and other winter items, often in
addition to preplanned promotional discounts, and profit margins are
expected to be under pressure due to this highly promotional
environment. Food was a big seller for discount stores. In addition, the
increasing popularity of gift cards have made it easier for people to
delay holiday shopping, shifting sales to the period after the holiday
season, as gift card sales don’t record sales revenue until the cards
are used.
** Market News International Washington Bureau (202) 371-2121 **
[TOPICS: M$U$$$,MAUDS$]