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Comps on steady incline in November's second week as holidays near

Comps on steady incline in November's second week as holidays near

New York -- The Johnson Redbook Retail Sales Index was up 1.6% in the second week of November following a 0.8% gain the prior week.

Month-to-date, November was up 1.2% compared to November of last year, relative to a target of a 2.1% gain. Month-over-month showed a 0.2% drop, relative to a target of a 0.7% gain.

November is a four-week month on the retail calendar ending on Nov. 24.

Business was relatively soft as the country focused on national elections at the beginning of the week, then picked up into the upcoming Veterans Day long weekend, noted Catlin Levis, Redbook analyst.

"Some retailers are rolling out and promoting holiday deals earlier than ever and planning on opening their doors on Thanksgiving Day in order to jump-start the weekend madness," she continued. "Meanwhile, in the Northeast region, shoppers headed to malls and discounters to replenish basic consumables and rebuild following Hurricane Sandy. Retailers are now looking towards Thanksgiving and the start of the holiday period as the next available opportunity to restore momentum to their sales."


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