January sales miss target
By Staff -- Home Textiles Today, 2/1/2005 12:31:00 PM
NEW YORK — Cooled off by winter storms during the waning days of January, same-store retail grew 2.4 percent during the fourth and final week of the month, behind the 2.8 percent growth put up the prior week, and growth of more than 3 percent during the first two weeks of the month.
For the entire four-week period, same-store sales came in at 2.9 percent, missing a target of 3.2 percent growth, the Johnson Redbook Index reported. Both department stores and discounters came in beneath plan for the month. Department store sales edged up 0.4 percent, beneath a target of 0.8 percent growth. And discounter sales rose 4.4 percent, slightly below a target of 4.7 percent.
"Sales in the final week were adversely affected by winter storms in the Northeast and the Midwest parts of the country," said Redbook Analyst Catlin Levis. "Cold temperatures are typically welcome during winter clearances, however in this case severe snowstorms kept shoppers at home and forced stores to close."
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