Same-Store Sales Remain Ahead of Plan
May 30, 2005-- Home Textiles Today,
Helped by a continued strong performance from department stores, same-store sales remained ahead of plan during the third week of May, rising 3.4 percent, the Johnson Redbook reported.
Department stores gained 3.1 percent, building on earlier gains, and month-to-date have climbed 3 percent, easily besting a target of 2.4 percent growth. Discounters rose 3.7 percent during the week, and for the three-week period were up 3.5 percent, ahead of a target of 3.4 percent.
“Retailers said business picked up especially in the South,” said Redbook Analyst Catlin Levis. Warmer weather appeared finally to shift consumers toward long awaited seasonal purchasing and spurred sales of seasonal items across a broad range of merchandise categories, including apparel, outdoor goods and home improvement and appliances, all indicators of seasonal demand.”
The analyst said, “Seasonal issues aside, some retailers said sales of food and consumables maintained their consistent strength. Retailers are looking for an improvement in seasonal business as warmer weather and a Memorial Day holiday draw closer.”
Johnson Redbook Index
Third week of May
|*Including chain stores and traditional department stores.
Source: Johnson Redbook Index