Redbook average shows retail slowdown
Staff -- Home & Textiles Today, 7/3/2001 12:30:00 PM
New York — Sales at discounters and department stores slowed down somewhat during the fourth week of June, and fell below prior-month levels, but even so are close to plan for the entire month, according to the widely watched Redbook Retail sales Average. Home furnishings, significantly, were a major growth area.
Sales for the fourth week of June were 1.4 percent higher than June of last year, but fell 1.3 percent beneath May levels, compared to a target of a 1.2 percent decline.
"Both department and discount store formats were slower," said Redbook analyst Catlin Levis. "With one more week to go in fiscal June, several of our survey companies reported that they are close to their sales plans for the month."
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