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Report: February same-store sales weaken

March 08, 2007

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Columbus, Ohio—Same-store sales growth in February decreased 2.6 percent from January as well as from the same period in 2006 for about 60 retailers reporting monthly results today, Retail Forward reports.

February same-store sales are down from a 4 percent sales-weighted composite reported last month, and down from the 3.2 percent composite reported in February 2006.

"Weather is not the only factor affecting sales. Apparel specialty stores are losing out to department stores right now, particularly among up-market households. And the impact of a weak housing market is spreading beyond home-improvement stores," director of the Retail Forward Knowledge Base and senior economist Frank Badillo said in a statement.

February sales results were led by stronger than average sales at drug stores and warehouse clubs. Department stores also managed growth, but it was slightly below the industry composite. Apparel- and accessory-store sales were flat, as were sales at discount department stores.

Department stores and consumer electronics stores gained shoppers in February, as did discount stores/supercenters and home-improvement centers/hardware stores, despite weak sales and the effects of a soft housing market.

Home-textile/home-furnishing stores kept the same amount of shoppers, while adult-apparel specialty stores lost shoppers.
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