A so-so week for comps
Retail Editor 1 -- Home Textiles Today, June 26, 2012
New York - Same-store sales rose 1.9% last week following a 2.4% gain the prior week, according to The Johnson Redbook Retail Sales Index.
Month-to-date, June comps were up 2.3% compared to June of last year, relative to a target of a 2.9% gain. Month-over-month showed a 0.4% gain, relative to a target of a 0.9% gain.
Both department and discount stores turned in softer performance following Father's Day, noted Catlin Levis, Redbook analyst.
"The slower pace reflected a normal seasonal lull as more people enjoy the outdoors instead of shopping in stores during the summer month," she said. "With the first day of summer having come on Wednesday, some retailers said their seasonal inventory is slightly higher than they would prefer at this point in the cycle."
However, she added, most retailers continue to expect sell-through during the hot weather and upcoming 4th of July promotions as more shoppers buy according to immediate needs.
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