Labor Day perks up comps
September 5, 2012,
New York - Same-store sales for the week ended Sept. 1 rose 2.5%, according to the Johnson Redbook Retail Sales Index
The target for the month is a 2.2% gain. Month-over-month showed a 1.7% gain, relative to a target of a 1.5% gain.
Sales picked up in the days leading up to the Labor Day weekend, noted Catlin Levis, Redbook analyst
"Shoppers responded positively to various Labor Day promotions and last minute back-to-school shopping despite Tropical Storm Isaac putting somewhat of a damper on the gulf coast region," she continued.
Back-to-school merchandise and seasonal apparel were key performers during the week. Discount stores registered strong food sales ahead of the long Labor Day weekend.
"Some retailers are nearing the end of their back-to-school calendars while others expect its impetus to last through the month, reflecting in sales of children's clothing, school supplies and selected hard goods," she added. "Some retailers are already getting inventories ready to jump-start their Halloween sales."