Memorial Day Helps Push Comps above Plan

NEW YORK - Same-store sales rose 3.1% in the first week of June, according to The Johnson Redbook Retail Sales Index.
     Month-to-date, June was up 3.1% compared to June of last year, besting a revised target of a 2.9% gain. Month-over-month showed a 1.1% gain, relative to a target of a 0.9% gain.
     The week included the Sunday and Monday of the Memorial Day weekend period and was slightly above plan, noted Catlin Levis, Redbook analyst.
     "Memorial Day promotions helped to drive demand for a broad range of summer and picnic goods as well as seasonal apparel," she said. "Retailers also said business picked up nationwide due to widespread warmer temperatures."
     June represents the peak of seasonal business before traditional July clearance sales, she noted. "Weather will be key in terms of allowing stores to make up sales before margin cutting clearance time," Levis summed.

Johnson Redbook Index

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

WEEK ENDED

   6/2

   6/9

  6/16

  6/23

  6/30

  MONTH

  TARGET

Department stores*

  2.4

      

Discounters

  3.5

      

Redbook Index

  3.1

      

*Including chain stores and traditional department stores

Source: Johnson Redbook Index

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