Another Lackluster Week for Comp Sales
July 6, 2009,
Aggregate comp store sales slipped again in the fourth week of June compared last year, the Johnson Redbook reported last week.
Year-over-year, the month was down 4.4% compared to June 2008. Same-store sales declined 4.4% compared to last month.
"With the first official day of summer came more seasonable temperatures. The summer heat, in turn, promoted customer traffic for seasonal categories such as air conditioners, fans, pool and beach equipment, swim wear and other hot weather apparel as customers seem to be buying according to immediate needs," said Catlin Levis, Redbook analyst.
Discounters had a slightly improved week, with comp sales slipping 2.6% compared to 3% drops earlier in the month. At department stores, the comp decline fell back 7.2% following a 6.7% drop a week earlier. Unless department stores have a good run-up to the Independence Day holiday, the sector is not likely to reach its Rebook target for the month of a 6.3% comp decline.
But a sharply promotional environment may tamper comp increases across the industry during the final week of June, Levis warned.
"As we approach Independence Day, many retailers have already marked down early in order to lure customers," she said.
Johnson Redbook Index
Fourth week of June, year-over-year % change
|*Including chain stores and traditional department stores
Source: Johnson Redbook Index