Comps hit bump in between holidays
Home & Textiles Today Staff -- Home Textiles Today, June 10, 2014
New York – With Memorial Day gone and Father’s Day sales not yet in full force, comps were up 3.3% last week, according to the Johnson Redbook Retail Sales Index.
Month-to-date, June was up 3.3% compared to June of last year, relative to a revised target of a 3.8% gain. Month-over-month showed a 1.8% drop, compared to a target of a 1.3% drop.
June is a five-week month on the retail calendar, ending on July 5 .
Without an immediate seasonal event around which to drive sales, most retailers were slightly below plan for the week, noted Redbook analyst Catlin Levis.
“Retailers anticipate the full effect of the Father's Day event to occur over the course of [this] week. June represents the peak of seasonal business before traditional July clearance sales and therefore is a crucial month for most retailers. Weather will be key in terms of allowing stores to make up sales before margin cutting clearance,” she said.
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