WASHINGTON (MNI) – The following is the text of the weekly retail
sales report released by Johnson Redbook Tuesday, for the month-to-date
through the week-ended June 4:
The Johnson Redbook Retail Sales Index was up 4.2% in the first
week of June. Month-to-date, June was up 4.2% compared to June of last
year (relative to a revised target of a 3.8% gain). Month-over-month
showed a 1.5% gain compared to May (relative to a targeted gain of
0.9%). June is a five-week month on the retail calendar ending on July
2nd.
Retailers said business picked up nationwide for the latest week’s
sales span, which included Sunday and Monday of the long Memorial Day
weekend. Holiday promotions and widespread warmer temperatures appeared
to finally shift consumers toward seasonal purchasing. 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 time. Meanwhile, retailers anticipate the full effect of
Father’s Day to occur over the course of the next two weeks.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]