Comps finish the month ahead of plan
HTT Staff -- Home Textiles Today, 8/28/2012 12:34:10 PM
New York - Same-store sales rose 1.5% in the fourth and final week of August following a 1.9% gain in the prior week, according to The Johnson Redbook Retail Sales Index.
Month-to-date, August was up 1.8% compared to August of last year, just outpacing a targeted 1.7% gain. Month-over-month showed a 0.4% drop, slightly better than the expected 0.5% drop.
The year-over-year same-store gain for the discount channel during the four-week period ended Aug. 25 was 2.5%, just missing the 2.6% target. The department store segment posted a 0.5% year-over-year increase for the month, besting Redbook's projected 0.1% decline.
"Young people are increasingly shopping for fall clothing later into the season after school begins," explained Catlin Levis, Redbook analyst. "Hot weather and waiting for deeper discounts made for a slower weekly performance."
Consumers in the Gulf Coast region were also stocking up on emergency suppliers ahead of Tropical Storm Isaac, which especially benefited discounters, she said.
"Looking forward, our preliminary target for September is a 2.0% year-over-year gain, or a 1.3% month-over-month increase," she added.
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