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Same-Store Sales Mixed in March

Posted on April 11, 2013 by HFN Staff

NEW YORK-U.S. retailers tracked by HFN reported differing results in same-store sales last month.

Costco had the healthiest month with a comparable-club increase of 5 percent for its U.S. locations (6 percent when gasoline sales are included). Ross Stores' same-store sales edged up 1 percent last month. The TJX Cos. reported a 2 percent drop in same-store sales for their various nameplates.

Carol Meyrowitz, TJX CEO, said the company had planned for a weak March on top of a gain of 10 percent in March of last year. The weather, which was "extraordinarily cold" throughout much of TJX store locations, also proved to be a factor, Meyrowitz said.

Michael Balmuth, Ross' vice chairman and CEO, said the chain's same-store performance was better than the company's projection for a 1 to 2 percent decline. Easter Sunday store closures, which occurred in March this year, had an impact on Ross' results as well.