Same-Store Sales Enjoy Small Rebound
Staff Staff -- Home Textiles Today, May 16, 2005
Improving after a lackluster, broadly soft performance in April, same-store retail sales improved 3.2 percent during the first week of May, coming in modestly ahead of a targeted 3 percent increase, the Johnson Redbook reported.
Both department stores and discounters came in ahead of plan, with department stores reporting a 2.9 percent boost, beating a target of 2.4 percent growth. Discounter sales rose by 3.5 percent, slightly ahead of a planned 3.4 percent rise.
“Results were mixed in the first week,” reported Redbook Analyst Catlin Levis. “There was variation among merchandise leaders. Discounters reported steady business in food and basic consumables. Seasonal business was mixed among department stores, with some citing cold and rainy weather across much of the country as a damper on business.”
Levis said, “Mother's Day items such as cosmetics, accessories and jewelry, while brisk, did not necessarily boost annual growth rates since the event occurred at the same time last year. Summer sales typically peak in May before clearance starts in June. Retailers hope warm weather will spur shopping activity.”
Breaking out results on a regional basis, the Southeast outperformed the rest of the country, said Levis.
Johnson Redbook Index
First week of May
|*Including chain stores and traditional department stores.
Source: Johnson Redbook Index