Johnson Redbook: Labor Day Sales Boosted Comps
Home & Textiles Today Staff -- Home Textiles Today, September 21, 2011
NEW YORK - The Johnson Redbook Retail Sales Index was up 4.5% in the second week of September following a 4.9% gain the prior week.
Month-to-date sales in September increased 4.7% versus a year ago, relative to a target of a 4.6% gain. And month-over-month showed a slight 0.2% gain compared with August, relative to a target of a 0.1% increase.
Most retailers reported an "excellent Labor Day holiday," with better-than-expected sales growth on Sunday and Monday as the season approached its peak back-to-school selling period, according to Carlin Levis, Redbook analyst.
But business "tailed off sharply in the middle of the week, only to build up again into the weekend. The net result was not quite as strong as the first week of the month, but was sufficient to leave our model ahead of plan month-to-date," Levis said.
Most retailers reported positive results in all categories of back-to-school merchandise, including apparel, although some discount stores saw back-to-school hard lines outperform soft lines.
Johnson Redbook Index
Second week of September, year-over-year % change
*Including chain stores and traditional department stores
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