Promotional pricing perks sales

NEW YORK — Helped by seasonal shopping and more promotional pricing as retailers clear shelves for the holidays, same-store retail sales perked up 2.8 percent during the second week of October, the Johnson Redbook reported.

The week gained slightly on the prior week, with its 2.8 percent increase, and put sales for the two weeks month to date modestly ahead of plan, up 2.9 percent, compared with a forecast gain of 2.7 percent.Discounter sales improved 3.8 percent, slightly ahead of their 3.7 percent gain the week before. But department store sales remained soft, rising 1.7 percent, improving on a 1.4 percent increase the preceding week."Seasonal shopping was the driver in the second week," commented Redbook Analyst Catlin Levis. "Apparel sales may also have been stimulated by more promotional pricing as stores sought to shift goods ahead of the holiday season."Colder weather, Levis added, is "expected eventually to trigger seasonal demand for apparel inventory, and some retailers claim the process has already begun, as sales picked up into the weekend, especially in the north, where fall weather prevailed. Some sources noted they were also beginning to see early interest in Christmas-related items."

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

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See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!