Comps holding steady
Staff Staff -- Furniture Today, August 16, 2011
New York - A balance of summer clearance and better Back-to-School spending than a year ago pushed same-stores sales ahead 4.7% during the second week of August, according to the Johnson Redbook.
The department store sector's comps rose 3.3% a week after increasing 3.0%. Discounter comps rose 5.5%, slightly less than the 5.7% increase the previous week.
"As the school year nears, sales appear to be slightly above target year-to-ate, although the impact will be easier to assess next month as consumers are increasingly buying closer to need," said Catlin Levis, Redbook analyst.
Some retailers said hot weather during the week ended August 13 retarded sales of fall merchandise, she added.
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