Sales Slump in Second Week of June
June 22, 2009,
Aggregate comp store sales fell for the second week in a row compared to last year, the Johnson Redbook reported last week.
Month-over-month, the Johnson Redbook Retail Sales Index fell 4.5% compared to May. The drop had been targeted at a decline of 4.1%.
“Retailers faced unfavorable annual comparisons mainly in men’s apparel with the comparable year ago week having been boosted by stimulus checks on Father’s Day,” said Catlin Levis, Redbook analyst.
“Elsewhere, household basics generally held up well. Sales of seasonal merchandise have been driven by promotional pricing as stores sought to shift goods ahead of the fall season,” she said. “June is a critical month for retailers, representing the peak of seasonal business ahead of traditional July clearance sales. Meanwhile, a series of powerful storms disrupted business around the Texas region.”
Johnson Redbook Index
Second week of October, year-over-year % change
|Source: Johnson Redbook Index