July kicks off with comp uptick
July 15, 2014,
New York – Comps were up 4.1% in the first week on the July retail calendar, said the Johnson Redbook Retail Sales Index, with strong sales in seasonal goods and stepped-up clearance promotions ahead of the fall set.
Month-to-date, July was up 4.1% compared to July of last year, relative to a revised 3.7% target. Month-over-month showed a 0.1% drop, compared to a target of a 0.5% drop.
As Redbook analyst Catlin Levis explained, “The focus in July, as in the latter part of June, is on clearing seasonal inventories.”
After the July 4 holiday weekend, business began to wane, she said, leaving retailers on or slightly ahead of plan by the end of last week.
“Sales performance is driven by discounting and can vary sharply from week to week, depending on individual store promotions and the availability of salable goods,” Levis noted.
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