President's Day sales help weekly comp
February 26, 2013,
"The department store segment picked up volume, partly the result of promotional activity, while the less promotional discount stores were more mixed," said Caltin Levis, Redbook analyst.
Comps in the department store channel rose 1.7% for the week ended Feb 23, while comps in the discount segment increased 3.1%.
The Monday holiday for many schools and offices helped spur sales of seasonal apparel and other spring goods, said Levis, although demand tended to be heaviest in warmer parts of the country.
Still, she added, "Many retailers in colder regions also reported improved seasonal business, especially in women's categories, suggesting preemptive buying by certain consumers."
Related Content By Author
The Countdown to the ICON Honors Continues featuring Christophe Pourny