Same-Store Sales Ahead of Plan
September 26, 2005,
Same-store retail sales edged up 3.2 percent during the third week of September, modestly off their stronger pace and a 3.4 percent increase the week before, the Johnson Redbook reported.
“Retailers reported mixed results, with pockets of relative strength combined with weakness,” stated Redbook Analyst Catlin Levis. “Discount stores remained slightly ahead of target, while department stores were decidedly softer.”
Discounter sales improved 3.5 percent, breezing past a 2.7 percent increase at department stores.
“Sales performance at the discounters was sustained largely by food, household supplies, basic apparel, hardware and cleaning supplies due to the hurricane,” said Levis. “Some clothing categories were active, but apparel in general did not perform as expected, hurting the department stores with their narrower merchandise bases.”
Moving into the back half of the month, there is increasing evidence that back-to-school apparel purchasing “was somewhat disappointing,” Levis noted. “Retailers partially attributed the recent weakness to factors such as hurricane disruption and higher gasoline prices curbing consumer spending. Unseasonably warm weather also again received its share of the blame, and several retailers suggested the drop in temperature this week may help to provide them with the sales momentum they have been looking for.”
Johnson Redbook Index
Third week of September
|*Including chain stores and traditional department stores.
Source: Johnson Redbook Index