March same-store sales falter
GDA Staff -- Gifts & Dec, April 1, 2008
|*Including chain stores and traditional department stores
Source: Johnson Redbook Index
New York – Merchandisers that had picked up steam in mid-March seem to have run out of gas in the fourth week, with comparable-store sales up just 1.0% in the week ending March 29, for a month-to-date comp gain of 1.1% the Johnson Redbook reported today.
The targeted comp gain of 1.4% for the five-week month now looks out of range, with segment goals likely to elude both discounters and department stores.
Month-over-month was 1.7% above February (compared to a targeted 2.0% gain). March is a five-week month on the retail calendar ending on April 5th.
“The week's sluggish performance reflected a combination of seasonal softness following Easter week sales,” said Redbook analyst Catlin Levis. “Many stores were closed on Easter Sunday, aiming for tough comparisons against seven shopping days last year along with the Easter shift as stores began to go up against last year’s pre-Easter shopping.”
“Widespread wet and stormy weather dampened demand for apparel-intensive stores in comparison with more diversified retailers,” Levis added. “The heavily weighted discount stores saw firm business in consumer basics such as food and household supplies.”
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