March Comps Disappoint
Home & Textiles Today Staff -- Home Textiles Today, May 3, 2013
NEW YORK - Easter sales turned out to be softer than expected, giving the month of March a 2.9% year-over-year comp increase, missing The Johnson Redbook Retail Sales Index's target of 3.3%.
Comps were up 2.5% in the fifth and final week of March following a 3.5% gain the prior week.
Redbook analyst Catlin Levis said the growth rate for March "reflects an upward bias from the earlier placement of Easter this year; April is expected to show a corresponding downward bias."
Redbook's preliminary target for April is for year-over-year same-store growth of 2.7%, which would result in a month-over-month performance against March of a 2.0% drop.
Johnson Redbook Index
Fifth week of March, year-over-year % change
*Including chain stores and traditional department stores
Source: Johnson Redbook Index
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