Early December same-store sales slow
December 5, 2006,
New York -- Waiting for deeper discounts to come -- and digging out from snowstorms that shut down parts of the Midwest -- consumers stayed away from the malls during the first week of December, pushing same-store retail sales well beneath plan.
"Retailers described the week as a lull that began the weekend after what was for some a hectic post-Thanksgiving surge, but noted that the pause was typical of the first week of December, and would likely be followed by a steady buildup toward Christmas," said Redbook analyst Catlin Levis. "Moreover, sales were hurt by a Midwest snowstorm, which brought lighter foot traffic. Thousands of homes and businesses were without power following the first big Midwest snowstorm of the season."
On the plus side, "The month contains one additional pre-Christmas shopping day over last year, a positive impact for most retailers," said Levis. On the downside, she added, "Consumers have learned to defer holiday shopping until the last minute in order to exploit merchant markdowns."
Related Content By Author
Live From New York: Fashion Comes Across the Pond
Home & Textiles Today eDaily
Most Viewed Articles
See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more...