November Comps Up
December 7, 2009-- Home Textiles Today,
Comp store sales finished out the month of November beating expectations, the Johnson Redbook reported last week.
The Johnson Redbook Retail Sales Index was up 2.6% for the month, besting a targeted gain of 2.2%. The department store segment's 1.3% decline outpaced a projected 1.7% drop. Discounters finished up 5.0%, exceeding a 4.7% target.
During the fourth and final week of November, the Index rose 3.8% year-over-year and 5.2% compared to October. Department store comps slipped just 0.7%, and discounter's same-store sales jumped 6.6%.
Although gift-card sales were slow, electronics did well, said Catlin Levis, Redbook analyst.
"Gross margins continue to be pressured by an increase in markdowns," she added.
December comps are projected to rise 2.5% year-over-year and decline 4.0% compared to November.
Johnson Redbook Index
Fourth week of November, year-over-year % change
|*Including chain stores and traditional department stores
Source: Johnson Redbook Index