March Comps Beat Expectations
-- Home Textiles Today, 4/12/2010 12:00:00 AM
New York —
An earlier Easter helped propel same-store sales gains in March, which beat projections, according to the Johnson Redbook Retail Sales Index.
Comps for the month rose 3.9%, exceeding Redbook’s 3.7% target. In the final week of the month, ended April 3, total comps jumped 5.2%. Department store comps rose 3.2%, and discounter’s comps gained 5.7%.
“Most retailers were satisfied with their business and with customers’ response to spring merchandise,” said Catlin Levis, Redbook analyst.
However, retailers expect year-over-year comparisons in April to soften – again, due to the shift in the Easter holiday.
“Retailers recommend withholding judgment on the season until the end of this month when March and April can be assessed as a single accounting unit,” said Levis.
Redbooks preliminary target for April is a 3.1% rise in aggregate comp store sales.
Johnson Redbook Index
Fifth week of March, year-over-year % change
| Week Ended | 3/6 | 3/13 | 3/20 | 3/27 | 4/3 | Month | Target |
| *Including chain stores and traditional department stores Source: Johnson Redbook Index |
|||||||
| Department stores* | 2.3 | 2.5 | 2.7 | 3.2 | 4.1 | 2.9 | 2.9 |
| Discounters | 3.6 | 3.8 | 4.1 | 5.0 | 5.7 | 4.2 | 4.1 |
| Redbook Index | 3.1 | 3.3 | 3.6 | 4.4 | 5.2 | 3.9 | 3.7 |
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March comps beat expectations
Apr 6, 2010
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