Same-stores sales up in first week
Home & Textiles Today Staff -- Home Textiles Today, October 16, 2003
New York — Building up steam moving into the closing months of the year, same-store retail sales improved by 3.6 percent during the first week of October, but still fell slightly beneath plan as the weather warmed up moving further into the week, blunting sales of seasonal apparel, the Redbook Retail Sales Average reported.
Though climbing by 3.6 percent over year-ago levels, sales came in modestly beneath a targeted gain of 3.8 percent. Measured on a month-over-month basis, sales were 1.2 percent above September levels, shy of the target of 1.5 percent growth.
Department stores, reversing a two-year-long trend of flat to declining sales, put up a 1.7 percent increase during the week, slightly off the target of 1.9 percent growth. Mass merchant sales jumped up by 4.8 percent, just missing a target of 5.1 percent.
"Retailers who started the month behind plan said sales began strong and then fell as the weather warmed," said Redbook analyst Catlin Levis. "Sales performance at the discounters was sustained largely by non-seasonal items, especially electronics and basic consumables."
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