August comps off to solid start
HTT Staff -- Home Textiles Today, 8/10/2010 9:39:27 AM
New York - Sales tax holidays in 11 states helped push same-stores ahead during the first week of August, according to the Johnson Redbook.
Comps for the week ended August 7 rose 3.0%, with department stores up 2.0% and discounters gaining 3.5%.
"The tone of the week's business was satisfactory, although some retailers said it had begun slowly before improving toward the weekend," said Catlin Levis, Redbook analyst.
Many retailers were still transitioning from summer clearance into back-to-school, she added.
"The full impact of back-to-school will not be seen until later this month or early September," said Levis.
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