Comps clicking along
Home Textiles Today Staff -- Home Textiles Today, 7/26/2011 12:49:12 PM
New York - Same-store sales rose 3.5% last week following a 3.8% increase a week earlier as retailers simultaneously clear summer goods and begin stocking back-to-school merchandise, according the Johnson Redbook.
Comps were up 3.6% in the discount store sector and up 3.3% for department stores.
"Back-to-school activities appears to be on target so far, although its impact will be easier to assess next month," said Catlin Levis, Redbook analyst.
She added that by mid-August, 16 states will hold tax-free shopping holidays, which retailers hope will spur shopping activities.