June Comps Miss Redbook Target

NEW YORK - Same-store sales rose 2.2% year-over year in June, failing to hit the 2.9% increase projected by Johnson Redbook Retail Sales Index.
     Month-over-month, comps were up 0.2%. Redbook had expected a 0.9% increase. In the final week of June, ended June 30, comps were up 1.7% following a 1.9% gain the prior week. Redbook analyst Catlin Levin called the results "disappointing, though not particularly surprising, sub-performing month." She added: "The softer week partly due to the fourth of July holiday delaying shopping as well as calendar comparisons (July 4 is on Wednesday compared to Monday last year)."Redbook's preliminary target for July is year-over-year same-store sales growth of 2.6%. Levin noted that July sales volume tend to relatively slow and clearance-driven.

Johnson Redbook Index

Fifth week of June, year-over-year % change

WEEK ENDED

6/02

  6/09

  6/16

  6/23

  6/30

  MONTH

  TARGET

Department stores*

2.4

1.0

1.9

1.3

1.0

1.5

2.2

Discounters

3.5

2.4

2.7

2.2

2.1

2.6

3.3

Redbook Index

3.1

2.0

2.4

1.9

1.7

2.2

2.9

*Including chain stores and traditional department stores

Source: Johnson Redbook Index

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