December comps slightly off target
Casual Living Staff -- Casual Living, January 5, 2010
New York – December same-store sales rose 1.8% compared to a target of 2.1%, the Johnson Redbook reported today.
Comps in the final week ended Jan. 2 rose 1.6% after a 3.0% gain during Christmas week.
Both discounters and department stores narrowly missed their Rebook targets for the month. Discounters posted a monthly comp gain of 4.3% compared to an expected 4.5%. Department stores recorded a comp decline of 1.8% compared to an anticipated drop of 1.4%.
Sales were mixed. While traffic was fairly strong, clearance sales were “certainly a factor,” said Catlin Levis, Redbook analyst.
Redbooks preliminary target for January comps is a 1.5% year-over-year gain, which would mean a 0.9% month-over-month decline.