Same-store sales trail early February goal
Home & Textiles Today Staff -- Home Textiles Today, February 13, 2007
New York– The first week of February saw same store sales up 2.5% from a year ago, for a month-to-date gain of 2.5%, against the goal of 2.7%, the Johnson Redbook Index reported.
In the month-to-month comparison, February was down 1.4% vs. January, against a projected drop of 1.2%. February is a four-week month on the retail calendar, ending March 3.
Redbook analyst Catlin Levis said, “February represents the beginning of the spring season and a renewed focus on full-price selling, with fewer incentives in the form of clearance sales and inventory markdowns to draw customers to stores. Hence, a slow start to the month was not unexpected.”
“The month is the start of the first quarter on the transitional retail calendar, and is typically the smallest month of the quarter in terms of sales volume,”Levisnoted. “With Valentine’s Day falling on the second week of February this year versus the third week last year, sales related to the event are expected to pick up into the subsequent fiscal week.”
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