TeleCheck records strong retail results during April
Staff -- Home Textiles Today, 5/7/2001 12:00:00 AM
HOUSTON — Same-store sales rose by 3.1 percent for the four calendar weeks of April, a moderately strong performance, according to TeleCheck Services Inc., the check acceptance company.
"Although some sectors of the economy are reporting sluggish growth, retail sales remain moderately strong," said TeleCheck. The Southeast region led the nation, followed by the Southwest, the Mid-Atlantic, the Midwest, the West and the Northeast in sales for all of April.
"The Easter holiday fell two weeks earlier during April this year, and consumers also had one less weekend day to shop. Nevertheless, same-store retail sales are surprisingly high despite this unfavorable calendar shift," said Dr. William Ford, TeleCheck's senior economic advisor. "Even with widespread flooding in the Midwest, retail sales were moderately strong across the country and consistent with recent reports that the economy continues to grow, albeit at a slower pace."
Compiled on a calendar basis, rather than using the retail calendar, The TeleCheck Retail Index is based on a year-over-year, same-store-sales comparison of the dollar volume of checks written by consumers at more than 27,000 of TeleCheck's 272,000 subscribing locations.
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