NEW YORK – Retail sales rose 3.0% in the fourth week of August after a 2.6% rise in the third week, according to the Johnson Redbook Retail Sales Index.
Month-to-date, August was up 2.8% compared to August of last year (in-line with the target). Month-over-month showed a 1.0% gain compared to July (also in-line with the target).
“Back-to-school sales are not yet over, especially in the apparel and accessories merchandise classifications as people are positioning their purchases closer to the time of actual need,” the report said. “Some retailers believe hot weather may be delaying back-to-school activity. Early sales figures may not be wholly indicative for the season. Looking forward, our preliminary target for September is 2.8% year-over-year, or a month-to-month target of 1.0%.”
