Comps still lagging a bit in the home stretch
July 1, 2014,
New York – The 3.1% increase in comps disappointed in the fourth week of June following a 3.3% gain the prior week, as shopper activity slowed predictably at key channels, 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 target of a 3.8% gain. Month-over-month showed a 1.7% drop, compared to a target of a 1.3% drop.
Catlin Levis, Redbook analyst, explained that both department and discount store formats turned in softer performance compared to the previous week. But, she added, this is a normal time of year for retailers to experience a seasonal lull.
“Some retailers said their seasonal inventory is slightly higher than they would prefer at this point in the cycle,” Levis continued. “However, they continue to expect sell-throughs during the hot weather as more customers buy according to immediate needs. As we are approaching the Fourth of July, many retailers already are marking down merchandise in orders to create traffic and lure customers.”
Related Content By Author
Live From New York: Fashion Comes Across the Pond
Home & Textiles Today eDaily
Most Viewed Articles
See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more...