Memorial Day Spurs Sales
June 13, 2005,
With the nation's department stores getting a lift from strong Memorial Day sales, which offset some weakness at mass merchants, same-store retail sales came in modestly ahead of plan during the first week of June, rising 3.3 percent and besting a target of 3.2 percent growth.
Same-store sales in full-price department stores climbed 2.8 percent, easily exceeding targeted growth of 2.4 percent. But discounters missed their target during the week, with sales rising 3.6 percent, just shy of a targeted 3.7 percent increase.
Levis said, “Some retailers reported strength in merchandise related to school graduation such as women's wear, men's wear, footwear and women's accessories.” But on the downside, “unseasonably cold and rainy weather in the West and Midwest areas continued to be a factor in sales of spring and summer goods.”
The analyst noted, “June is the peak of seasonal business before July clearance sales and an important month to most retailers. Weather will be key in allowing stores to make sales before margin-cutting clearance.”
Johnson Redbook Index
First week of June
|*Including chain stores and traditional department stores.
Source: Johnson Redbook Index