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 June 26:
The Johnson Redbook Retail Sales Index was up 2.5% in the fourth
week of June following a 3.2% gain the prior week. Month-to-date, June
was up 3.0% compared to June of last year (relative to a target of a
3.2% gain). Month-over-month showed a 0.6% drop compared to May
(relative to a targeted 0.3% drop). June is a five-week month on the
retail calendar ending on July 3rd.
Both department and discount store formats were slower last week,
as opposed to the previous week, and were brought down below plan
month-to-date. The slower pace reflected a normal seasonal lull as more
people are enjoying the outdoors instead of shopping in stores during
the summer months. Discounters reported more emphasis on household
basics and consumables and less emphasis on summer apparel and other
soft goods. Some retailers said their seasonal inventory is slightly
higher than they would prefer at this point in the cycle, but continue
to expect sell-through during the hot weather as more customers buy
according to immediate needs.’
Note: Due to the Independence Day holiday, our report next week
will be released on Wednesday, July 7th, instead of on Tuesday. We wish
our readers a happy 4th of July.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]