August Comps Off to Solid Start
September 4, 2010,
August Comps ON EW YORK - Sales tax holidays in 11 states helped push same-stores ahead during the ﬁrst week of August, according to the Johnson Red-book.
Comps for the week ended August 7 rose 3.0%, with department stores up 2.0% and discounters gaining 3.5%.
"The tone of the week's business was satisfactory, although some retailers said it had begun slowly before improving toward the weekend," said Catlin Levis, Red-book analyst.
Many retailers were still transitioning from summer clearance into back-to-school, she added.
"The full impact of back-to-school will not be seen until later this month or early September," said Levis.
Johnson Redbook Index
First week of August, year-over-year % change
Source: Johnson Redbook Index