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.
Other Articles By Author
Von Tobel Cites Brass Textures Among Top Trends
HFN's DIGITAL EDITION
2017 State of the Industry Report
Cautious Optimism, Mixed Results
Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.
ALSO IN THIS ISSUE:
- TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
- Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
- N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.