Retailers Close in on June Comp Goals
Staff Staff -- Home Textiles Today, July 7, 2008
Seasonally warm weather spurred continued same-store sales momentum, as retailers posted an overall 2.9% comp gain in the fourth week of June, the Johnson Redbook reported.
With one week remaining in the five-week retail month, retailers have posted a month-to-date comp gain of 2.5%, against the 2.8% target.
Department stores, with a 1.2% comp drop month-to-date, are actually well ahead of the goal of a 2.4% drop for the segment. Discounters trail their goal of a 5.9% comp pickup.
"The fourth week did represent a continuation of a slightly firmer trend although it remained below plan month-to-date. The pickup was attributed to the summer heat, which in turn promoted customer traffic for air conditioners, fans, pool and beach equipment as well as warm weather apparel, as customers seem to be buying according to their immediate needs," said Redbook analyst Catlin Levis.
"With one more week to go in fiscal June," said Levis, "several of our surveyed companies reported that they are close to their sales plans for the month."
Johnson Redbook Index
Fourth week of June, year-over-year % change
|*Including chain stores and traditional department stores
Source: Johnson Redbook Index