Consumers begin to eye BTS
-- Home Textiles Today, 8/12/2008 1:43:00 PM
New York – The Johnson Redbook Retail Sales Index rose 1.5% in the first week of August, and was up 1.5% compared to August of last year.
Month-over-month, the index fell 1.9% below July, compared to a target 1.8% drop.
Although sales were slightly below plan during the opening shopping week of the month, shoppers were pursuing summer clearance sales and starting to turn their attention to fresh back-to-school merchandise, according to Redbook analyst Catlin Levis.
“At this point, most stores are in mid-transition between summer clearance and back-to-school,” she said. “The full impact of back-to-school will not be seen until later this month, or early September.”
The discount sector outperformed its 3.9% target for the month by posting a 4.4% sales gain during the month’s first week. Discount volume was driven by consumables, especially food and some back-to-school items, said Levis.
Overall, tax-free holidays in a number of states also boosted volume, she added. Those states were Alabama, District of Columbia, Tennessee and Virginia.
First week of August, year-over-year % change
*Including chain stores and traditional department stores.
Source: Johnson Redbook Index
We would love your feedback!