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Discounting Post-July 4th Keeps Comps Afloat

NEW YORK - Comps were up 3.0% in the first week of July, according to the Johnson Redbook Retail Sales Index.
     Month-to-date, July was up 3.0% compared to July of last year, relative to a revised target of a 3.1% gain. Monthover- month showed a 0.8% gain, compared to a target of a 0.9% gain.
     July is a four-week month on the retail calendar ending on Aug. 3.
     Sales tailed off on Sunday, following the Fourth of July holiday, noted Redbook analyst Catlin Levis.
     "Some retailers noticed moderate interest in the children's department as evidenced by early back-to-school buying," she continued.
     "July is the last month of the spring season for most retailers. Seasonal goods moved well as stores stepped up clearance oriented promotions ahead of fall restocking."
     Sales performance is driven by discounting and can vary sharply from week to week depending on individual store promotions and availability of saleable goods, Levis summed.8

Johnson Redbook Index

First week of July, year-over-year % change

WEEK ENDED

 7/13

 7/20

 7/27

8/3

  MONTH

TARGET

Department stores*

1.7

   

1.7

2.0

Discounters

3.7

   

3.7

3.7

Redbook Index

3.0

   

3.0

3.1

*Including chain stores and traditional department stores

Source: Johnson Redbook Index

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