September comps positive but under goal
By Staff -- Home Textiles Today, 10/7/2008 1:56:00 PM
| Week ended | 9/6 | 9/13 | 9/20 | 9/27 | 10/4 | Month | Target |
| *Including chain stores and traditional department stores Source: Johnson Redbook Index |
|||||||
| Department stores* | -5.4 | -6.2 | -6.1 | -6.2 | -6.3 | -6.1 | -6.0 |
| Discounters | 6.4 | 6.2 | 5.8 | 5.7 | 5.4 | 5.9 | 6.6 |
| Redbook Index | 1.8 | 1.4 | 1.2 | 1.0 | 0.8 | 1.3 | 1.7 |
New York – Retailers’ same-store sales finished the September period with a fifth consecutive week of slowing, evident across all channels and categories, and setting the stage for a new round of promotional pricing, the Johnson Redbook reported today.
The Johnson Redbook Retail Sales Index for the month was up 1.3% year-over-year, missing the goal of a 1.7% gain. Month-over-month comps were down 1.4% from August, worse than the planned 1.0% drop.
Redbook analyst Catlin Levis said of retailers, “Many said the weakness was broadly distributed across regional boundaries and merchandise categories, indicating below average traffic in general rather than consumer disinterest in particular lines.”
“Meanwhile,” she noted, “many stores are stepping up promotions to offer more discounts than they did at this time last year. Wal-Mart announced on Wednesday it had cut prices on popular Christmas toys. Many others are following suit.”
Of the four-week October retail month, Levis pointed out: “The month contains two holiday events, Columbus Day and Halloween. Our preliminary target for October based on retailers' plans is for growth of 1.1%, which equates to a monthly 0.6% decline.”
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