Redbook: March goes out, limping
April 9, 2003,
New York — Stalled by snow and freezing rain, and hobbled further by a late Easter this year, same-store retail sales continued their downward spiral, tumbling by 2.5 percent during the fifth and final week of March, the Redbook Retail Sales Average reported.
The deep decline followed an even steeper drop of 2.8 percent the prior week.
Sales for most of March were hurt by the late Easter, which pushed holiday sales into April results. But the difficult comparison gets left behind now, said Redbook analyst Catlin Levis, and April sales should start running well ahead. "Following a below-plan March, our preliminary target for April is for year-over-year growth of 2.7 percent, which would result in a month-to-month gain against March of 5.1 percent."
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