Sales slump in second week of June
Furniture Today Staff -- Furniture Today, June 16, 2009
week of June year-over-year % change
|*Including chain stores and traditional department stores
Source: Johnson Redbook Index
New York – Aggregate comp store sales fell for the second week in a row compared to last year, the Johnson Redbook reported today.
Same-store sales for the second week of June, ended June 13, fell 4.8% following a 4.4% decline the prior week. Department stores had a tough time, with comps dropping 7.8%, but discounters also saw their comps slide 3.1%.
Month-over-month, the Johnson Redbook Retail Sales Index fell 4.5% compared to May. The drop had been targeted at a decline of 4.1%.
“Retailers faced unfavorable annual comparisons mainly in men’s apparel with the comparable year ago week having been boosted by stimulus checks on Father’s Day,” said Catlin Levis, Redbook analyst.
“Elsewhere, household basics generally held up well. Sales of seasonal merchandise have been driven by promotional pricing as stores sought to shift goods ahead of the fall season,” she said. “June is a critical month for retailers, representing the peak of seasonal business ahead of traditional July clearance sales. Meanwhile, a series of powerful storms disrupted business around the Texas region.”
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