Comp sales sag at department stores
August 19, 2008,
|*Including chain stores and traditional department stores
Source: Johnson Redbook Index
New York – Department stores saw same-store sales slowing further, down 4.1% in the second week of August, the Johnson Redbook reported today.
“Consumers are focusing on consumer basics such as food and household supplies,” said Redbook analyst Catlin Levis. “Clearance activity is expected to decline rapidly over the next few weeks, depending on individual transition programs. Meanwhile, shoppers took advantage of Texas' annual sales-tax-free week as it came to an end last Sunday.”
As dampeners on sales growth, Levis pointed to “the hot weather and growing trend of consumers purchasing back-to-school clothing as they need them rather than ahead of time. Parents, who subsidize teen spending, are tightening their purse strings. Early back-to-school apparel results generally have lagged behind plan, but it is still too early to call this a trend.”
Related Content By Author
Live From New York: Fashion Comes Across the Pond
Home & Textiles Today eDaily
Most Viewed Articles
See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more...