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 January 14:
The Johnson Redbook Retail Sales Index was up 2.8% in the second
week of January following a 3.3% gain in the previous week.
Month-to-date, January was up 3.1% compared to January of last year
(relative to a target of a 2.9% gain). Month-over-month showed a 1.4%
drop compared to December (relative to a target of a 1.6% drop). January
is a four-week month on the retail calendar, ending on January 28th.
Sales cooled off in the second week as consumer appetite for
clearance bargains became partially satiated and year-end clearance
dominated sales activity. Department stores are typically volatile in
January as they work thorough the annual clear out of winter inventory
and drive sales through pricing. Discount stores, on the other hand,
returned to a more normal environment with business in consumer basics
and food. Sales leader lists varied widely from store to store, fairly
typical of a transitional, trend-less month. Some stores have reported
increased business in cold weather apparel in response to lower
temperatures in many parts of the country. At the same time, retailers
don’t read too much into the month, since January is considered a
transitional month with low volume business driven by price markdowns
and focusing on shifting goods to make room for Valentine’s Day and
spring lines.
** Market News International Washington Bureau (202) 371-2121 **
[TOPICS: M$U$$$,MAUDS$]