May comps hit the mark

Retail Editor 3, June 4, 2013

New York - Same-store sales for May rose 2.7% year-over-year and 0.6% month-over-month, in line with projections from the Johnson Redbook Retail Sales Index.
For the retail sales week ended June 1, comps in the discount channel rose 3.5% while same-store sales in the department store segment increased 1.7%.
Redbook analyst Catlin Levis credit Memorial Day promotions and purchases related to school graduations for boosting sales in the month's final week.
"Seasonal demand is expected to continue to drive business through June, but will likely moderate in July, the transitional month ahead of fall restocking and the back-to-school period," she added.
Redbook's preliminary forecast for June is for year-over-year comp growth of 3.0% and a flat a month-over-month change against May.

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