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Turkey Day prep heats up comps

RedbookNew York - Lured with special promotions related to the Thanksgiving holiday, shoppers showed up at retail in stronger numbers last week, driving comps up 3.8% following a 3.5% gain the prior week, according to the Johnson Redbook Retail Sales Index.

Month-to-date, November was up 3.5% compared to November of last year, relative to a target of a 4.1% gain. Month-over-month showed a 0.5% drop, relative to a flat target.

"The week ended on a stronger note than it began, which is not surprising for a pre-Thanksgiving week as food and special promotions drew in customers," noted Catlin Levis, Redbook analyst. "Others held off shopping, instead choosing to wait for the deep discounts of the upcoming Black Friday and Cyber Monday."

With Hanukkah occurring earlier this year - it begins at sundown tomorrow - many retailers saw sales picking up, Levis added.

"As the holiday season gets underway in earnest, the two days following Thanksgiving typically provide the busiest period of the entire sales' year. Many retailers plan to open their doors 24 hours or to extend hours in order to placate shoppers."

 

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