Same-store Sales Beat Expectations
November 1, 2004,
Same-store retail sales moved up 3.1 percent and remained above plan during the third week of October, helped by cooler weather, sales of seasonal apparel and Halloween-themed products, the Johnson Redbook Index reported.
Discounter sales powered the overall increase, rising 3.9 percent. Department store sales, gaining steadily throughout the month, increased 2 percent, improving on gains of 1.4 and 1.7 percent during the first two weeks of October.
“Sales continued above plan in the third week as shoppers responded to more seasonal weather and started to purchase according to current needs,” said Redbook Analyst Catlin Levis. “Consumers appear to be focusing on apparel at the expense of hardlines, thereby tempering overall results for certain retailers.”
Levis commented, “Some department store retailers said sales growth was being driven by clearance, rather than by full-price merchandise, as fall apparel had been delayed by prolonged summer-like weather, although this was not necessarily true of the group as a whole. Retailers also noted strength in Halloween-related merchandise, as expected, but indicated the higher sales momentum is really being driven by apparel, boosting traffic and average sales tickets.”
Johnson Redbook Retail Sales Index
Third week of October
|*Including chain stores and traditional department stores.
Source: Johnson Redbook Index