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March comps surpass target

New York - Same-store sales rose 3.6% year-over-year in March, outpacing a targeted 3.3% gain forecasted by the Johnson Redbook Retail Sales Index.
During the final week of the month, comps rose 4.6%. Same-store sales in the discount channel climbed 5.4%. Comps were up 3.1% in the department store sector.
An earlier Easter this year was partly responsible for the boost, according to Redbook analyst Catlin Levis. "Retailers recommend withholding judgment on the season until the end of this month, when March and April can be assessed as a single accounting unit," she added.
"Most retailers were satisfied with customer response to spring merchandise across both hard lines and soft lines and ended March ahead of plan," she said.
Redbook's preliminary target for April is same-store sales growth of 3.4%.

 

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