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Comps Heated Up In Late June

Discounters

NEW YORK - The weekend preceding the Fourth of July holiday gave cause for celebration to retailers as consumers shopped for party preparations, helping comps rise 2.9% in the fourth week of June following a 2.8% gain the prior week, according to the Johnson Redbook Retail Sales Index.
     Month-to-date, June was up 2.8% compared to June of last year, relative to a target of a 3.3% gain. Month-over month showed a 0.5% drop, compared to a fl at target.
     June is a five-week month on the retail calendar ending on July 6.
     Independence Day promotions began the weekend before the holiday as July 4 fell on a Thursday, mid-week of this year, noted Redbook analyst Catlin Levis.
     "The pick-up can also be attributed to the summer heat, which in turn promoted customer traffic for hot weather apparel," she continued. "More than ever, customers are buying according to immediate need. Earlier worries about increased inventories and markdowns have lessened, although some excesses are still out there."

Johnson Redbook Index

Fourth week of June, year-over-year % change

WEEK ENDED

6/8

6/15

6/22
6/29
7/6
MONTH
TARGET

Department stores*

2.0

2.0

2.0
2.0
 2.0
2.0

Discounters

3.3

3.3

3.2
3.3
 3.3
3.9

Redbook Index

2.8

2.9

2.8
2.9
 2.8
3.3

*Including chain stores and traditional department stores

Source: Johnson Redbook Index

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