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Latest Week Latest Month vs. vs. vs. vs. Same Week Previous Same Month Previous Last Year Week Last Year Month Total Sales 8.6% 0.7% 8.2% 1.7% Same-Store Sales 5.2% 0.4% 4.9% 0.9%
Year-over-year total- store sales rose 8.6% for the fourth week of June, ended June 28, 1997, after 7.9% the previous week. June's sales to date are 1.7% higher than May's.
The week's performance was a resumption of the healthy pace exhibited in week one. Most retailers met or exceeded plan and indeed, several told us it was their best week of the month, so far. (There are five weeks in June.) The pickup was attributed to the summer heat, which in turn promoted customer traffic for air conditioners, fans, pool and beach equipment, and warm weather apparel. However, toward the end of the week, as temperatures cooled, business tapered off. More than ever, customers are buying according to immediate needs. The northeastern states did particularly well this week, and the California market remained strong. Earlier worries about increased inventories and markdowns have lessened, although some excesses are still out there. For the month to date, year-over-year total sales are ahead 8.2%. Redbook has raised its full-month total sales target half-a- point to 7.9% year-on-year and 1.4% month-to-month.
On a same store basis, annual growth for the latest week was 5.2%, and the month was 0.9% ahead of May.
June Sales Growth Forecasts
Forecasts quantify expected average sales growth rates for the month. Two sets of expectations are featured, one based on sales plans made by retailers at the beginning of the month, and an independent Redbook forecast, updated weekly except for the final week of the month.
Retailers Redbook Yr-on-Yr Mth-to-Mth Yr-on-Yr Mth-to-Mth Total Sales +8.5% +1.9% +7.9% +1.4% Same-Store Sales +5.0% +1.0% +4.7% +0.7%
July 1, 1997
Redbook Research
A Division of Lynch, Jones, & Ryan, Inc.
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