BTS, Labor Day slow comp declines
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week of September year-over-year % change
|*Including chain stores and traditional department stores
Source: Johnson Redbook Index
New York – With some help from back-to-school sales still pulling shoppers into the stores, The Johnson Redbook Retail Sales Index for the second week of September fell a modest 1.9%.
The previous week, comp store sales fell 2.4%. Compared to sales during the same period last September, comps declines 2.1%. Month-over-month showed a 0.5% gain relative to August.
“Most retailers reported a positive Labor Day holiday, with improved sales growth on Sunday and Monday,” said Catlin Levis, Redbook analyst. “Thereafter, business tailed off sharply in the middle of the week, only to build up again into the weekend and was sufficient to leave our model ahead of plan month-to-date.”
Month-to-date, discounters’ 0.4% comp drop is still running ahead of Redbook’s monthly target for the channel of a 1.2% decline. Department stores are also performing better than target so far, with a 2.1% decline compared to a targeted 2.9% decline.
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