ShopperTrak Report: Year-over-year retail sales up 4.5% for week ending Aug. 21
Chicago A report released late Wednesday by ShopperTrak said that year-over-year GAFO (general merchandise, apparel, furniture, sporting goods, electronics, hobby, books and other related store sales) retail sales increased 4.5% for the week ending Aug. 21, while sales edged down 0.4% versus the previous week ending Aug. 14.
According to ShopperTrak’s National Retail Sales Estimate, week-over-week sales slipped as back-to-school spending reached its peak and began the gradual slowdown retailers typically experience at the end of the month.
However, yearly sales remained strong, increasing steadily from a week in 2009 that contained the highest volume of back-to-school sales. ShopperTrak reported year-over-year sales have increased 28 out of 33 possible weeks so far in 2010.
“As expected, sales will continue to slightly decline this week as back to school winds down and retailers begin to prepare for the all important holiday shopping season,” said Bill Martin, co-founder of ShopperTrak. “Looking ahead to next week, GAFO sales could slightly increase as back-to-school shopping officially ends but Labor Day sales promotions begin, which could provide a boost late in the week.”