Same-store sales hurt by lack of consumer “desire”
Karyn Peterson -- Gifts & Dec, April 22, 2008
|*Including chain stores and traditional department stores
Source: Johnson Redbook Index
New York – Comparable-store sales slowed in the second week of the April, but month-to-date comps remained just ahead of the goal of a 1.8% gain, the Johnson Redbook reported today.
Month-over-month comps were 1.3% below March, also slightly better than the anticipated 1.4% drop.
“Sales were below plan or at the low end of planned ranges for most retailers during the week in our model,” observed Redbook analyst Catlin Levis.
“The slower performance was due to consumers who lacked the desire to shop and also due to cool weather, which dampened demand for spring goods, particularly affecting less diversified apparel intensive stores,” she added.
“Sales at the heavily weighted discount stores were lifted on business in food, basic household supplies and some seasonal hardlines while department stores softened, noting they had seen less of a pick up in seasonal apparel than expected,” Levis said.
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