Comps softened in May’s third week
May 25, 2010,
Third week of May,
year-over-year % change
|*Including chain stores and traditional department stores
Source: Johnson Redbook Index
New York – Up against a tough comparison to last year – when pre-Memorial Day sales fell a week earlier than they do this year – same-store sales softened a bit last week, rising 2.0%, according to the Johnson Redbook.
Redbook also cited cold weather in the West and heavy rain in parts of the Midwest for dampening business in both hard lines and soft lines. Month-over-month, comps were up 0.3% compared to April.
Redbook analyst Catlin Levis noted that although many retailers reported better first quarter results, most “were still cautious on their outlook amid high unemployment and inflation pressure.”
She added: “Some discounters already have started to mark down to attract consumers who remain focused on value.”