Comps up but short of expectations
Home Textiles Today Staff -- Home Textiles Today, 3/19/2013 10:44:31 AM
New York - Comps were up 2.9% in the second week of March following a 2.7% gain the prior week, according to the Johnson Redbook Retail Sales Index.
Month-to-date, March was up 2.8% compared to March of last year, relative to target of a 3.3% gain. Month-over-month showed a 0.7% gain, relative to a target of a 1.2% gain.
March is a five-week month on the retail calendar, ending on April 6th.
Sales were mixed to modestly firmer in the second week, but remained below plan for the week and month-to-date.
"Many retailers planned for a back loaded month with sales levels expected to rise steadily into the Easter weekend at the end of the fourth week before tailing off in the fifth and final week of the month," explained Redbook analyst Catlin Levis. "Students on spring break over the next few weeks are also a potential catalyst for spring merchandise."
Relatively higher growth rates in March reflect an upward bias from the earlier placement of Easter this year. Planned and actual growth rates in April are expected to show a corresponding downward bias, she added.
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