April comps slightly off the mark
Home Textiles Today Staff -- Home Textiles Today, 5/1/2012 4:38:15 PM
New York - Same-store sales rose 2.9% in the fourth and final week of April following a 2.7% gain the prior week, according to The Johnson Redbook Retail Sales Index.
Month-to-date, April was up 3.2% compared to April of last year, falling shy of Redbook's targeted 3.5% gain. Month-over-month showed a 0.2% drop, relative to a target of a 0.1% gain.
April's sales results were short of retailers' target, noted Catlin Levis, Redebook analyst. The month's results were negatively impacted by the early Easter holiday as well as tough comparisons with the year ago period.
The combined average annual growth rate for March and April was 3.4% compared with a 2.9% gain in February and a 2.7% gain in January.
"Our initial target for May is for a year-over-year same-store sales gain of 4.0%, which generates a monthly comparison of a 0.1% gain," she said. "This target will be finalized in next week's report."
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