November comps end on high note
HTT Staff -- Home Textiles Today, 11/27/2012 12:22:33 PM
New York -- The Johnson Redbook Retail Sales Index was up 4.5% in the fourth and final week of November following a 1.8% gain the prior week.
Month-to-date, November was up 2.2% compared to November of last year, besting Redbook's target of a 2.1% gain. Month-over-month showed a 0.8% gain, relative to a target of a 0.7% gain.
Same-store sales rose 2.9% in the department store channel during the week ended Nov. 24 and were up 5.4% in the discount segment.
Catlin Levis, Redbook analyst, noted the fourth week of November, including the Friday and Saturday following Thanksgiving, "was, as is typically the case, among the busiest and most closely watched shopping weeks of the year because of the clues it provides to the Christmas season as a whole."
Extensive promotional activities and extended shopping hours drew in customers.
"This final burst of strength was sufficient to enable many stores to improve their overall monthly results," she added. "While traffic rose, the sharp discounts could actually hurt the bottom line of some retailers."
Seasonal apparel dominated sales at department stores, while discounters focused on consumer electronics and food.
"Early indications for December are for a comparable tone of guarded optimism," Levis added, with same-store gains projected to be 2.6% year-over-year and a 0.2% gain versus November.