Comps so-so ahead of holiday push
Retail Editor 4 -- Home Textiles Today, November 12, 2013
New York - Comps were up 3.3% last week as shoppers slowed their spending to focus on Election Day, according to the Johnson Redbook Retail Sales Index.
Month-to-date, November was up 3.3% compared to November of last year, relative to a revised target of a 4.1% gain. Month-over-month showed a 0.8% drop, relative to a flat target.
November is a four-week month on the retail calendar, ending on Nov. 30.
"Holiday merchandise sales are beginning to trickle in as stores are promoting earlier with some announcing extended hours and promotions on Thanksgiving Day," Redbook analyst Catlin Levis explained.
"November is typically a transitional month where retailers often clear unsold fall merchandise and prepare for the holiday season. More importantly, the month is significantly back-loaded, with most business contributed in the last two days following Thanksgiving."
November is ending with the official beginning of the holiday season on "Black Friday," the day after Thanksgiving, which falls in the final week.
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