Same-store sales firm in second week of May
May 22, 2007,
New York– While volume slowed from the first week of May, retailers maintained just enough of that initial momentum to keep up the comparable store sales pace, matching the month-to-date goal of a 2.3% rise, the Johnson Redbook said.
“ The sales performance was slower in the second week due to unfair comparisons with last year’s pre-Mother’s Day sales, which fell a week later last year,” noted Catlin Levis, Redbook analyst, who added that the “stop-and-go pattern of spring shopping influenced by weather has mostly disadvantaged department stores with their comparatively higher exposure to seasonal apparel. Seasonal issues aside, discount retailers are doing well in sales of food and consumables.”
“Retailers are still hopeful that sales will strengthen over the Memorial Day weekend and recover some of the earlier seasonal losses,” Levis noted.
Related Content By Author
Live from NY Market: Target Talks Up Its New Chemical Initiative