Johnson Redbook Index ticks up in February's first week
February 8, 2011,
New York -- The Johnson Redbook Retail Sales Index was up 2.7% in the first week of February and for the month to date, compared to February 2010, relative to a revised target of a 2.5% gain.
Month-over-month showed a softer increase of 1.7% versus January, relative to a target of a 1.5% gain.
The Johnson Redbook noted that like January, February is regarded as a transitional month, "combining final clearance of winter merchandise with the early introduction of spring goods." The month is the beginning of the first quarter on the retail calendar and is typically the smallest month of the quarter in terms of sales volume.
"Most retailers were running above their February plans by the end of the first week," the Index added. "Retailers continue to clear pockets of winter goods at markdown, although these no longer represented a significant percentage of business."
Super Bowl Sunday drew sales of big screen televisions, snack foods, beverages, team apparel and other related merchandise leading up to the annual football event.