March comps beat expectations
April 6, 2010,
Fifth week of March
year-over-year % change
|*Including chain stores and traditional department stores
Source: Johnson Redbook Index
New York – An earlier Easter helped propel same-store sales gains in March, which beat projections, according to the Johnson Redbook Retail Sales Index.
Comps for the month rose 3.9%, exceeding Redbook’s 3.7% target. In the final week of the month, ended April 3, total comps jumped 5.2%. Department store comps rose 3.2%, and discounter’s comps gained 5.7%.
“Most retailers were satisfied with their business and with customers’ response to spring merchandise,” said Catlin Levis, Redbook analyst.
However, retailers expect year-over-year comparisons in April to soften – again, due to the shift in the Easter holiday.
“Retailers recommend withholding judgment on the season until the end of this month when March and April can be assessed as a single accounting unit,” said Levis.
Redbooks preliminary target for April is a 3.1% rise in aggregate comp store sales.