Christmas week comps finish strong
HTT Staff -- Home Textiles Today, 12/28/2011 11:56:08 AM
New York - Same-store sales rose 4.3% year-over-year during the week ended Dec. 24, according to the Johnson Redbook Retail Sales Index.
The department store segment's comps rose 3.5% after a 3.0% increase in the prior week. In the discount channel, comps climbed 4.8% following a 3.7% increase in the week ended Dec. 17.
"Retailers said much of the week's business was done on the day of Christmas Eve as shoppers flocked to stores for last minute shopping," said Catlin Levis, Redbook analyst.
Slower sales of seasonal apparel prompted some retailers to offer even steeper markdowns, she said, "and profit margins are expected to be under pressure due to this highly promotional environment."
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