May Comps Keep Pace
By Staff -- Home Textiles Today, 6/2/2008
New York — Retailer same-store sales for the third week of May rose 1.7%, keeping the month-to-date gain at 1.8%, the Johnson Redbook reported.
Department store operators were slightly exceeding plan, while discounters were just a bit under their goal.
Month-over-month performance showed a 1.9% gain over April, in-line with the target, said Redbook analyst Catlin Levis. The four-week retail month ends on May 31.
"Some retailers said the pace of sales was uneven in the beginning of the week but picking up as we approached the Memorial Day weekend," Levis noted. "Seasonal merchandise was reported to be selling well where temperatures have been warm. Promotional and competitive pricing also helped sales, especially among moderately priced sectors. Discounters reported strong business in the food division ahead of the long weekend."
| Week ended | 5/10 | 5/17 | 5/24 | 5/31 | Month | Target |
| Department stores* | 1.0 | 0.7 | 0.9 | 0.9 | 0.7 | |
| Discounters | 2.6 | 2.2 | 2.3 | 2.3 | 2.4 | |
| Redbook Average | 2.0 | 1.6 | 1.7 | 1.8 | 1.7 | |
| *Including chain stores and traditional department stores Source: Johnson Redbook Index |
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