Same-Store Sales On Target
Home & Textiles Today Staff -- Home Textiles Today, February 14, 2005
New York — Still working off winter goods on the markdown tables, American retailers reported same-store sales improved 2.3 percent during the first week of February, on track with plan, the Johnson Redbook Index reported.
Same-store sales at discounters improved 3.5 percent, slightly ahead of a targeted gain of 3.4 percent, the Redbook reported. Department store sales rose by 0.6 percent, on target.
“Most retailers were running on their February plans by the end of the first week,” said Redbook Analyst Catlin Levis. “Retailers continued to clear pockets of winter goods at markdown, however this no longer represents a significant portion of business. February is regarded as a transitional month combined with an early introduction of spring goods. As a result, the week showed some seasonal influence.”
Levis added, “Stores with broad product lines reported strength in basic goods such as food and household goods. Sales performance was fairly uniform across all regions, although some companies indicated they were slightly better in the Northeast, possibly rebounding from recent winter storms.”
Providing another boost to Northeastern sales was New York State's sales tax holiday, from Jan. 31 to Feb. 6, which provided tax relief on clothing and footwear costing less than $110.
Johnson Redbook Index
First week of February
|*Including chain stores and traditional department stores.
Source: Johnson Redbook Index