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Same store sales stay ahead of plan

NEW YORK — Same-store retail sales rose 2.6 percent during the second week of July, modestly off their 2.8 percent growth pace of the week before, but still slightly ahead of plan as seasonal clearance sales continue, the Johnson Redbook Retail Sales Index reported.

For the two weeks month-to-date, same-store sales have risen 2.7 percent, the Redbook reported, ahead of a forecasted 2.6 percent increase. Measured on a month-over-month basis, sales are down 0.6 percent from June, better than a targeted 0.7 percent decline.

"Sales for the week remained slightly above plan," observed Redbook Analyst Catlin Levis. "July is typical of a clearance-oriented month as business varied across store formats, reflecting both promotional calendars and the availability of seasonal merchandise."

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