Comps Shaky for U.S. Retailers in February
March 7, 2013,
NEW YORK-Same-store sales for chains tracked on a monthly basis by HFN wobbled through the month of February, beset by extreme weather conditions in parts of the country along with late-coming income-tax refunds for consumers.
Ross Stores, which in recent months has presented strong same-store gains, reported a 1 percent drop in comparable-store sales last month. The TJX Cos., which has also produced a consistent record of positive gains, limped through February with a 1 percent increase. Costco beat the other two handily with a 6 percent pickup--5 percent when factoring out gasoline sales.
Commenting on TJX's February performance, CEO Carol Meyrowitz said shoppers were kept home during the month by winter storms in many of the U.S. and Canadian regions. Meyrowitz added that the company's home businesses, which are less sensitive to the weather, were strong across the board.