Comps heated up in late June
HTT Staff -- Home Textiles Today, 7/2/2013 1:08:29 PM
New York - The weekend preceding the Fourth of July holiday gave cause for celebration to retailers as consumers shopped for party preparations, helping comps rise 2.9% in the fourth week of June following a 2.8% gain the prior week, according to the Johnson Redbook Retail Sales Index.
For the week ended June 29, same-store sales in the discount channel rose 3.3%, while comps in the department store segment increased 2.0%.
June is a five-week month on the retail calendar ending on July 6th.
Independence Day promotions began the weekend before the holiday as July 4th falls on Thursday, mid-week of this year, noted Redbook analyst Catlin Levis.
"The pick-up can also be attributed to the summer heat, which in turn promoted customer traffic for hot weather apparel," she continued. "More than ever, customers are buying according to immediate need. Earlier worries about increased inventories and markdowns have lessened, although some excesses are still out there."
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