Retail comp sales end February shy of mark
By Staff -- Home Textiles Today, 2/28/2006 1:30:00 PM
New York -- Same-store retail sales picked up by 3.0% during the fourth and closing week of February, but it wasn't enough to offset weather-related weakness earlier during the month, and sales for all of February missed their target, rising by 2.9%, slightly off a planned increase of 3.1%, the Johnson Redbook Index reported.
"Sales improved, but too little to compensate for the record Northeastern snowstorm the prior week, and the month closed behind its target," said Carlin Levis, Redbook analyst. "During the week, the department store segment picked up volume, partly the result of the President's Day sales promotion. A number of stores reported that excluding the snowstorm, sales were about on plan for the month, following the strong January sales."
Levis said, "Over the next two months, sales gains will be affected by the floating Easter holiday, which occurs this year on the third week of April compared to the fifth week of March last year. This will hurt March and help April, and the months should be combined for fair comparisons."
Levis said her preliminary target for March is a 3.4% gain over last year, but a decline of 1.6% from February.
We would love your feedback!
-
Retail Comp Sales End February Shy of Mark
Mar 6, 2006
Off-pricers keep up momentum through January
Walmart Canada unveils aggressive expansion plans for new fiscal year
Walmart promotes Foran to head Walmart China
Intertek, Fibre2Fashion align for apparel, textile global sourcing initiatives in South Asia
PCFC expands memory fiber product offerings with new bedding, mattress pad line
Featured Company
-
Wright Labels
Bill and Tom Wright founded Wright of Thomasville in 1961 on the idea that printing was a creative medium and the belief that "a promise made is a promise kept." The Wright brothers focused their attention on providing exceptional printing for the... more
