June starts off with comp gain
Retail Editor 1 -- Home Textiles Today, June 11, 2013
New York - Comps were up 2.8% in the first week of June, but retailers largely slightly below plan, according to The Johnson Redbook Retail Sales Index.
For the retail week ended June 8, same-store sales rose 3.3% in the discount channel and 2.0% in the department store sector.
Month-to-date, June was up 2.8% compared to June of last year, relative to a revised target of 3.3% gain. Month-over-month showed a 0.5% drop, compared to a flat target.
June the peak of retailers' seasonal business before the industry pivots to July clearance sales.
"Most retailers were slightly below plan as retailers faced unfavorable calendar comparisons against last year's Memorial Day sales," said Redbook analyst Catlin Levis. "With slightly less emphasis on seasonal buying, sales leader lists were more mixed. Weather will be key in terms of allowing stores to make up sales before margin cutting clearance time."
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