Johnson Redbook: Comps up 4.1% in October's third week
Home Textiles Today Staff -- Home Textiles Today, 10/25/2011 12:02:10 PM
New York -- The Johnson Redbook Retail Sales Index was up 4.1% in the third week of October following a 4.6% gain the prior week.
Month-to-date, October was up 4.5% compared to October 2010, relative to a target of a 4.6% gain. Month-over-month showed a 0.8% drop compared to September, relative to a target of a 0.7% drop.
Catlin Levis, Redbook analyst, noted sales pulled back slightly following Columbus Day sales from the prior week.
"Activity at discount stores was focused on consumer staples, such as food, pharmaceuticals and household goods," she continued. "Sales of Halloween items are on plan."
In a shift, many retailers started cutting prices on Halloween merchandise early in hopes of pushing consumers toward more margin-rich goods, she added.
As Redbook noted earlier, with Halloween being one day later this year versus last year, a timing shift could push some Halloween business out of October and into November.
We would love your feedback!