Discounting post-July 4th keeps comps afloat in week 2
July 16, 2013,
New York - Comps were up 3.0% in the first week of July, the Johnson Redbook Retail Sales Index.
Month-to-date, July was up 3.0% compared to July of last year, relative to a revised target of a 3.1% gain. Month-over-month showed a 0.8% gain, compared to a target of a 0.9% gain.
Sales tailed off on Sunday, following the Fourth of July holiday, noted Redbook analyst Catlin Levis.
"Some retailers noticed moderate interest in the children's department as evidenced by early back-to-school buying," she continued. "July is the last month of the spring season for most retailers. Seasonal goods moved well as stores stepped up clearance oriented promotions ahead of fall restocking."
Sales performance is driven by discounting and can vary sharply from week to week depending on individual store promotions and availability of saleable goods, Levis summed.