Comps positive, but slightly off the mark
February 2, 2010,
Fourth week of January
year-over-year % change
|*Including chain stores and traditional department stores
Source: Johnson Redbook Index
New York – Same-store sales posted another gain in the final week of January but the 1.0% increase for the month missed the target of 1.2%,” the Johnson Redbook reported today.
During the week ended Jan. 30, comps rose 0.8%, making each week in January one for positive comp increases. Discounter comps rose 2.2% while department store comps fell 2.1%. Month-over-month, comps declined 1.5% compared to December.
“Stores were satisfied with their inventory position. Many claim that better ivnetory management this year has allowed them to discount less aggressively than was the case last January,” said Catlin Levis, Redbook analyst.
Retailers are looking forward to three major events in February: Super Bowl Sunday, Valentine’s Day and President’s Day. Redbook has set a preliminary target this month for year-over-year comp growth of 1.0%.
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