Same-store sales sagged to a 2.5 percent gain in March, Kantar Retail reported yesterday. The gain was down from last month’s 4.4 percent and last year’s 9.2 percent gain in March.
According to Kantar Retail, the sagging numbers were due to this year’s late Easter holiday and higher fuel prices.
“What’s encouraging is that the Easter-related letup in sales wasn’t as severe as expected by a number of retailers—especially in light of the additional drag of higher fuel prices,” says Frank Badillo, Senior Economist at Kantar. “Sustained growth in jobs and income may be helping to alleviate some of the pain.”
Apparel retailer Limited Brands reported the largest increase of 14.0 percent, according to Kantar Retail, followed by Costco Companies (13.0 percent), Saks Incorporated (11.1 percent) and Tandy Leather Factory (10 percent).
For a list of the retailers reporting: http://www.retailforward.com/retailintel/samestr_sales.pdf