Comp Sales Short of Targets in April
By Staff -- Gifts and Dec, 5/9/2007 10:32:00 AM
New York — With same-store sales sinking at the nation's big mass merchants, extending a months-long stretch of weakening results, the Johnson Redbook Index said overall comps were virtually flat for the fourth and final week of April, with discounters cancelling out steadily improving gains at department stores.
With discounters acting as a drag on the total, overall same-store sales limped ahead just 0.1 percent for the entire month, lagging a targeted gain of 0.5 percent. Discounters recorded declining same-store sales in each of the four weeks of April, down 1.2 percent during the first week, followed by subsequent drops of 1.6 percent, 1.3 percent and 1.0 percent. The final tally: a drop of 1.4 percent, short of the modest goal of a drop of 1.1 percent.
Department stores had a somewhat better time of it, pushing comps for the month up by 2.2 percent, but broadly short of a target of a 3.0 percent gain.
"Sales were below plan in the fourth week and our retailer sample ended April on a disappointing note," said Redbook analyst Catlin Levis.
The analyst added, "As we are approaching Mother's Day, some retailers claimed to have picked up sales over the weekend in merchandise such as seasonal apparel, jewelry and accessories."
Looking ahead to May business, Levis has set a preliminary target of a 2.8 percent same-store sales gain, a 2.7 percent increase over April results.
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