Same-store sales slacker last week
June 12, 2012,
Same-store sales rose 2.0% for the week ended June 9 after rising 3.1% a week earlier. Comps were up 2.4% in the discount channel and 1.0% in the department store sector.
"Although temperatures finally have warmed up to seasonal levels, sales of hot weather merchandise, such as fans and air conditioners were below expectations," said Redbook analyst Catlin Levis.
She added: "Retailers noted that consumers reduced discretionary purchases and were more defensive in their buying patterns. In this environment, discount stores did best in food and household goods as well as in consumer durables."
Seasonal demand is expected to drive business through the month before trailing off in July, she said.
Related Content By Author
The Countdown to the ICON Honors Continues featuring Christophe Pourny