December Comps Exceeded Expectations
Furniture Today Staff -- Furniture Today, January 19, 2011
NEW YORK - The Christmas weekend blizzard may have knocked nationwide travel off course but it didn't derail shoppers, according to the Johnson Redbook.
Aggregate comps for December rose 3.6%, outpacing a projected 3.2% gain. During the final week of the month, comps were up a smart 4.7% at department stores and 2.8% at discounters.
Johnson Redbook Index
*Including chain stores and traditional department stores
"Clearance sales of seasonal inventory were certainly a factor in post Christmas buying. There were reports of significant upside performance at some department stores, which tend to be more promotional than discount stores this time of year," said Catlin Levis, Redbook analyst.
Redbook's preliminary target for January is a 2.8% gain over January 2010, which would mark a 0.5% decline from December.
Furniture Today's Ray Allegrezza Speaks with Stephen Bogart about Fine Furniture's New Bogart Line