Comp sales lag negative November target
Staff Staff -- Furniture Today, November 18, 2008
|*Including chain stores and traditional department stores
Source: Johnson Redbook Index
New York – Early, heavy promotions lifted comparable store sales slightly in the second retail week of November, but chains still lagged the month’s negative comp target, the Johnson Redbook reported today.
The Johnson Redbook Retail Sales Index was down 0.9% in the week and month-to-date, falling short of the targeted 0.5% drop. The -0.5% target is the first negative comp goal established by the Index’s survey of retailers since March 2003. One factor is the seasonal shift in the retail calendar guidelines of the National Retail Federation.
“Most retailers following NRF 4-5-4 calendar guidelines will lose seven post-Thanksgiving shopping days in November compared to last year. This will benefit retail December at the expense of November,” said Redbook analyst Catlin Levis.
“Holiday merchandise is already displayed in stores. Promotional activity is earlier and broader than last year as retailers seek to drive store traffic and clear excess apparel inventory,” Levis noted.
“Veterans Day promotions helped to lift traffic and sales slightly,” she observed, “while wildfires in Southern California disrupted many businesses.”
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