May comps beat Redbook target
Home & Textiles Today Staff -- Home Textiles Today, May 30, 2012
New York - Same-store sales rose 3.0% in May, outpacing the 2.8% target set by the Johnson Redbook Retail Sales Index.
Comps rose up 3.2% in the final week of the retail month, ended May 26, following a 2.7% gain the prior week. Comps in the discount store channel increased 3.8%, while the department store sector generated a 2.1% boost to comps.
Month-over-month, May comps showed a 0.9% drop compared to April, relative to a target of a 1.1% drop.
Catlin Levis, Redbook analyst, explained: "The week included the run-up to this year's Memorial Day holiday and sales were lifted by holiday traffic and promotions."
She said seasonal demand is expected to continue to propel business through June, "but will likely moderate somewhat in July, which is a the transitional month ahead of fall restocking and the back-to-school period."
Redbook is projecting year-over-year comp growth in June of 2.8%.
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