Mild weather, King holiday, football warm January sales
Brian Carroll -- Furniture Today, January 24, 2006
NEW YORK -- With consumers still flocking to the malls to cash in their gift cards or buy into post-Christmas clearance sales, same-store retail sales came in modestly ahead of expectations during the third week of January, perking up by 3.6 percent, the Johnson Redbook Index reported.
Measured on a three-week, month-over-month basis, sales were up 3.3 percent, compared with January 2005, beating a target of a 3.1 percent.
Redbook analyst Catlin Levis pointed to several factors, including:
- Warmer weather across parts of the country encouraged shoppers to purchase spring merchandise at full price.
- Some merchants claimed to notice a stronger tone during the Martin Luther King weekend.
- At discount stores beverages and food were the week's top seller, in part due to college bowl games and the National Football League playoffs.
Furniture Today's Ray Allegrezza Speaks with Stephen Bogart about Fine Furniture's New Bogart Line