Same-store sales matching November target
November 21, 2006-- Home Textiles Today,
New York -- Holding off for the deep discounting the holidays bring, consumers pulled back slightly on spending during the third week of November, and same-store retail sales rose by 3.0%, off their stronger pace of 3.3% growth the preceding week, the Johnson Redbook Index reported.
For the three weeks month-to-date, sales were up by 3.2% over their year-ago level, hitting their Redbook target. On a month-over-month basis, sales were up an on-plan 0.2%.
"For discounters, the week ended on a stronger note than it began; not surprisingly for a pre-Thanksgiving week, special promotions for food drew in customers. Department stores by and large indicated that sales were driven by strength in apparel and accessories," said Redbook analyst Catlin Levis.
“Several retailers reported an improvement in the last few days of the week, especially over the weekend,” said Levis . “As the holiday season begins to get underway, the two days following Thanksgiving is typically one of the busiest periods of the entire year. Many retailers are planning to open their doors 24 hours or to extend hours to make life easier for shoppers.”
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