Father's Day fails to bring out shoppers
Kids Today Staff -- Home Textiles Today, June 22, 2004
NEW YORK — Hampered by a weak Father's Day sales event, same-store retail sales cooled modestly for a second straight week from their pace at the beginning of the month, the Johnson Redbook Index reported.
Same-store sales improved 4.7 percent during the third week of June, slightly behind the 4.8 percent gain the prior week, and the even bigger 5.2 percent increase during the first week of the month. For the three weeks month-to-date, sales increased 4.9 percent over prior-year levels, modestly behind a targeted gain of 5.1 percent. Measured on a month-to-month basis, sales rose 0.4 percent above May levels, missing a target of 0.6 percent sales growth.
Department stores gained the most from the holiday, with sales improving 3.1 percent, following a 2.9 percent increase the preceding week. But sales at the nation's mass merchants continued to report slowing growth, 5.8 percent for the third week of June, down from 6 percent the prior week, and 6.4 percent during the opening week.
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