Redbook: Comps up 2.7% last week

Retail Editor 3, September 11, 2012

New York - Same-store sales rose 2.7% in the second week of September, following a 2.5% gain in the prior week, according to The Johnson Redbook Retail Sales Index.

Month-to-date, September was up 2.6% compared to September of last year, relative to a target of a 2.2% gain. Month-over-month showed a 1.9% gain, relative to a target of a 1.5% gain.

Back-to-school business continued to be a primary sales driver in the second week, which included Labor Day as the season approached its peak selling period, noted Redbook analyst Catlin Levis.

"Most retailers reported an excellent Labor Day holiday, with better-than-expected sales growth on Sunday and Monday; thereafter business tailed off sharply in the middle of the week, only to build up again into the weekend," she continued. "Business was sufficient to leave our model ahead of plan month-to-date. Meanwhile, Gulf Coast retailers noted Hurricane Isaac delayed the back-to-school shopping season in the affected locations. Sales picked up following Isaac, especially in the home improvement and household staples categories."


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