Comps slow in second week of January
-- Home & Textiles Today, 1/20/2010 7:07:00 AM
New York – Same-store sales rose 0.9% in the week ended Jan. 16 after climbing 1.4% a week earlier, the Johnson Redbook reported today.
As business at discounters returned to a non-holiday pace, comps in the channel gained 2.2% while comps at department stores declined 1.8%.
“Department store sales are typically volatile in January as they work through the annual clean-out of winter inventory and drive sales by pricing advertising and clearance,” said Catlin Levis, Redbook analyst.
At discount stores, sales shifted back toward basics and food, she added. “With less merchandise to clear out, stores are already sotcking up Valentine’s Day and spring merchandise.”
Inventory plans for spring and summer remain lean, said Levis.
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