Same-store sales slacker last week
Tracy Bulla -- Home Accents Today, June 12, 2012
New York - Comps in the second week of June fell off the pace they showed at the beginning of the month as consumers pulled back on discretionary purchases, according to the Johnson Redbook Retail Sales Index.
Same-store sales rose 2.0% for the week ended June 9 after rising 3.1% a week earlier. Comps were up 2.4% in the discount channel and 1.0% in the department store sector.
"Although temperatures finally have warmed up to seasonal levels, sales of hot weather merchandise, such as fans and air conditioners were below expectations," said Redbook analyst Catlin Levis.
She added: "Retailers noted that consumers reduced discretionary purchases and were more defensive in their buying patterns. In this environment, discount stores did best in food and household goods as well as in consumer durables."
Seasonal demand is expected to drive business through the month before trailing off in July, she said.