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 Jan. 22:
The Johnson Redbook Retail Sales Index was up 2.3% in the third
week of January following a 2.5% gain the prior week. Month-to-date,
January is up 2.5% compared to January of last year (relative to a
target of a 2.6% gain). Month-over-month showed a 0.7% drop compared to
December (in-line with the target). January is a four-week month on the
retail calendar ending on January 29th.
The extended Martin Luther King, Jr. holiday weekend and widespread
wintry weather had a mixed effect as cold weather kept people at home
thinning out store traffic. The cold weather, however, also encouraged
shoppers to purchase winter merchandise. Some retailers said consumers
are back in a penny-pinching mood. Since most winter inventory is on
clearance, this type of business did not necessarily translate into
higher margins, but it did momentarily improve sales performance.
Meanwhile, retailers are already moving in Valentine’s Day and spring
merchandise.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]