
US Redbook: Feb Store Sales +1.7% vs Jan Through Feb 6 Wk
WASHINGTON (MNI) - The following is the text of the weekly retail sales report released by Johnson Redbook Tuesday, for the month-to-date through the week ended February 6:
The Johnson Redbook Retail Sales Index was up 2.0% in the first week of February. Month-to-date, February was up 2.0% compared to February of last year (relative to a revised target of a 1.8% gain). Month-over-month showed a 1.7% gain relative to January (compared to a target of a 1.6% gain). February is a four-week month on the retail calendar ending on February 27th.
Results for the week were slightly above plan in the aggregate, although there was variation among individual companies. This was partly due to differing weather conditions across the country, from icy rain to snowstorms. The month is the start of the first quarter on the traditional retail calendar, and is typically the smallest month of the quarter in terms of sales volume. Elsewhere, retailers continued to clear pockets of winter goods at markdown, although these no longer represented a significant portion of business. In addition, Super Bowl Sunday drew sales of big screen TVs, snack foods, beverages, team apparel and other related merchandise leading up to the event. With Valentines Day falling on the third week this year versus the second week last year, sales toward the end of the week strengthened modestly, and are expected to pick up in earnest next week.
** Market News International Washington Bureau: 202-371-2121 **

