Comps Down 5.7% in First Week of July
July 20, 2009,
The Johnson Redbook Retail Sales Index was down 5.7% in the first week of July. And similarly, month-to-date, July was down 5.7% compared to the same period last year — relative to a revised target of a 5.0% drop.
Sales trailed off on Sunday following the fourth of July on Saturday. Higher priced department stores contributed to most of the sales weakness, as they are heavily dependent on apparel sales. Department stores reported that customers were not responding to fashion and seasonal initiatives, most evidently in the key merchandise category of women's ready-to-wear.
The focus in July, as in the later part of June, is on clearing seasonal stock. Sales performance was driven by discount activity. Seasonal goods moved well as stores stepped up clearance-oriented promotions ahead of fall restocking.
Johnson Redbook Index
First week of July, year-over-year % change
|*Including chain stores and traditional department stores
Source: Johnson Redbook Index
Related Content By Author
1200 Suppliers are Ready for You at Intertextile Shanghai
Home & Textiles Today eDaily
Most Viewed Articles
See the August 2017 issue of Home & Textiles Today. In this issue, we look at the Top 50 Retailing Giants Report, plus Manufacturing: Made in the USA gaining ground; International: Portugal ramping up exports; New products: NY Now home textiles introductions; Outlook: Commentary from H&TT's editors; and Planning: Trade show calendar.