Same-store sales lag October targets
October 24, 2006,
New York --- Same-store retail sales picked up by 3.2% during the third week of October, off from the 3.4% increase the preceding week, with sales for the three weeks month-to-date also beneath plan, rising by 3.4%, and just missing a goal of 3.5% growth, the Johnson Redbook Index reported.
For the three weeks month-to-date, department-store sales improved by 4.1%, besting a target of a 3.8% increase. Discounters, on the other hand, put up a disappointing 2.9% increase, well behind a targeted gain of 3.4%.
"Sales pulled back slightly following the Columbus Day sales during the prior week," said Redbook analyst Catlin Levis. October sales could come under further pressure from a shift in this year's calendar, she noted. "With Halloween being one day later this year versus last year, some Halloween business could be pushed out of October and into November."
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