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The first stirrings of BTS felt in comps last week

New York - Comps were up 2.9% in the third week of July following a 3.3% gain in the prior week, according to the Johnson Redbook Retail Sales Index.

For the retail week ended July 27, same-store sales were up 3.6% in the discount channel and 1.8% in the department store segment.

Month-to-date, July was up 3.0% compared to July of last year, relative to a 3.1% target. Month-over-month showed a 0.8% gain, relative to a target of a 0.9% gain.

"Heat waves across the country have fueled demand for remaining stocks of hot weather items," noted Catlin Levis, Redbook analyst.

Sales of children's apparel ticked up for some retailers as back-to-school merchandise began arriving in stores.

"However, demand for this merchandise is not expected to replace summer seasonal business until August," she warned.

Meanwhile, retailers in sixteen states are gearing up for the tax holidays.

"Retailers are hoping that tax holiday shopping in 10 states, which begins as early as on August 2nd, will motivate consumers to jump start spending," Levis summed.

 

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