October comps eke past goal
HTT Staff -- Home Textiles Today, 11/1/2011 2:02:56 PM
New York - Despite a heavy storm that brought broad sections of the Northeast to a standstill, The Johnson Redbook Retail Sales Index was up 5.2% in the fourth and final week of October following a 4.1% gain the prior week.
Month-to-date, October rose 4.7% compared to a year ago, relative to a target of a 4.6% gain. Month-over-month showed a 0.6% drop compared to September, relative to a target of a 0.7% drop.
Catlin Levis, Redbook analyst, explained, "Our sample ended slightly ahead of plan in October, the final month of the retail quarter. Stores reported improved sales for the week supported by cooler weather and Halloween shopping."
With Halloween being one day later this year than last year, some Halloween sales will be shifted into the November retail month. Sales of women's wear, children's wear and bedding improved during the final week of the month, said Levis.
Meanwhile, the northeastern snowstorm on Oct. 28 forced many stores to close and left many residents without power.
"Our preliminary target for November is for 4.4% year-over-year same-store growth, generating a month-over-month gain, November versus October, of 2.7%," Levis added.
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