Early comps snowed under
Retail Editor 4 -- Home Textiles Today, February 11, 2014
New York - With wintry weather and Super Bowl XLVIII distracting shoppers, comps rose a lower-than-expected 2.8% last week, according to the Johnson Redbook Retail Sales Index.
Johnson Redbook projects a year-over-over gain of 3.2% for February and a month-over-month drop of 1.0% compared to January. February is a four-week month on the retail calendar, ending on March 1st.
Redbook analyst Catlin Levis noted February kicks off spring season with full-price selling. With clearance sales and markdowns largely out of the way, "a slow start to the month was not unexpected," although last week proved slower than usual.
February is the start of the first quarter of the traditional retail calendar, and is typically the smallest month of the quarter in terms of sales volume, she added. Retailers are looking for sales increases this week around promotions for Valentine's Day (Feb. 14) and President's Day (Feb. 17).
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