Weekly Retail Sales Inch Higher
NEW YORK -(Dow Jones)- Redbook Research's latest indicator of national retail sales shows sales rose 1.0% in the first retail week of October compared with the same period in September.
The reading was above a targeted 0.6% gain.
The report also shows seasonally adjusted sales in the first-week period up 0.4% from the same period in 2001.
The Redbook staff said on an unadjusted basis, sales in the week ended Oct. 12 were up 0.4% from the same week in 2001. "The sales momentum that characterized the final days of the last week of September carries through into the first week of October," Redbook staff said. Retailers were given a firmer opening to the current month and discount stores were supported by consumables, food and home goods.
Colder temperatures are expected to trigger demand for winter apparel, and Redbook noted that sales for such items picked up in the Midwest and Northeast last week.
Redbook Research, formerly a division of Lynch, Jones & Ryan Inc., is a division of Instinet Research
NEW YORK -(Dow Jones)- Redbook Research's latest indicator of national retail sales shows sales rose 1.0% in the first retail week of October compared with the same period in September.
The reading was above a targeted 0.6% gain.
The report also shows seasonally adjusted sales in the first-week period up 0.4% from the same period in 2001.
The Redbook staff said on an unadjusted basis, sales in the week ended Oct. 12 were up 0.4% from the same week in 2001. "The sales momentum that characterized the final days of the last week of September carries through into the first week of October," Redbook staff said. Retailers were given a firmer opening to the current month and discount stores were supported by consumables, food and home goods.
Colder temperatures are expected to trigger demand for winter apparel, and Redbook noted that sales for such items picked up in the Midwest and Northeast last week.
Redbook Research, formerly a division of Lynch, Jones & Ryan Inc., is a division of Instinet Research
