May comps off to a middling start
Retail Editor 4 -- Home Textiles Today, May 8, 2012
New York -Same-store sales were up 2.6% in the first week of May, according to The Johnson Redbook Retail Sales Index.
Month-to-date, May was up 2.6% compared to May of last year, relative to a revised target of a 2.8% gain. Month-over-month showed a 1.3% drop, relative to a target of a 1.1% drop.
Redbook's retail sample missed its target in the first week of May, said Redbook analyst Catlin Levis.
"Mother's Day falls a week later this year than last, complicating comparisons for the first week; the one-week shift in Mother's Day had a depressing effect on the year-over-year growth rate," she continued. "Some Mother's Day buying was evident in sales of gifts and cosmetics, however, merchants anticipate the full effect of the event to occur in this coming week."
Retailers are also expecting people to shop for school graduation in the coming weeks.
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