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Home goods heat up in warmer climates

New York - Same-store sales rose 2.2% in the fourth and final week of February following a 2.7% gain the prior week, according to The Johnson Redbook Retail Sales Index.

For the month, February comps were up 2.6% compared to February of last year, missing Redbook's target for a 2.9% gain. Month-over-month showed a 1.3% gain, relative to a target of a 1.6% gain.

During the week ended March 2, comps were up 3.4% in the discount channel and up 0.8% in the department store segment.

Redbook analyst Catlin Levis noted February sales typically account for a relatively small proportion of annual sales.

"Demand was broad based, with early business in spring apparel and other seasonal categories, primarily in the warmer parts of the country, augmenting strength in consumer basics and home goods," she noted.

March growth should benefit from an early Easter compared with a year ago. March is a five-week month on the retail calendar, ending on April 6th.

Redbook's preliminary target March is a 2.9% year-over-year comp improvement, which would result in a 0.9% gain over February, she added.

 

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