Retail sales climb
May 28, 2003-- Home Textiles Today,
NEW YORK — Despite unseasonably cold and damp weather that cramped sales of seasonal apparel in many parts of the country, same-store retail sales, helped by the Memorial Day weekend, moved up by 1.5 percent from year-ago levels during the third week of May, jumping up after a much softer 0.3 percent increase the preceding week.
Sales for the three weeks month-to-date advanced a slender 0.8 percent from May of last year, the Redbook Retail Sales Average reported. And sales for the three-week period are down by 2.7 percent from the same period last month, according to the widely watched gauge of retail activity. The Redbook Average measures same-store sales of a large sample of department stores and discounters representing about 9,000 doors around the nation.
As during the past two years, all of the gain during the third week of May came out of the discount channel, offsetting a continued decline at full-price department stores. Discounter sales strengthened by 2.9 percent, improving over gains of 1.3 percent recorded during each of the two previous weeks. For the three weeks month-to-date, discounter sales are up by 1.9 percent, slightly ahead of the target of 1.8 percent. Department store sales, though, slipped by 0.8 percent, a slight improvement over the prior week's 1.3 percent drop. Month-to-date, department store sales were off by 0.8 percent, just missing the target of a 0.7 percent decline.
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