Study: January same-store sales improve

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Study: January same-store sales improve

February 08, 2007

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Columbus, Ohio—Same-store sales growth increased 4 percent in January for about 60 retailers reporting monthly results today, Retail Forward reports.

January sales results are up from a 3.2 percent sales-weighted composite reported last month, and down from the 5.1 percent composite reported in January 2006.

"The underlying numbers suggest a strong start to the year. Shoppers were out in force as a result of gift cards, the let-up in gas prices and favorable weather," Frank Badillo, director of Retail Forward's Knowledge Base and senior economist, said in a statement. "And February should benefit from healthy demand surrounding Valentine's Day."

Shopping was up at a wide variety of retailers in January, according to Retail Forward's ShopperScape survey, with strong sales at department stores and drug stores. Discount department stores, warehouse clubs and apparel and accessory stores reported weaker results.

Best Buy, J.C. Penney, Wal-Mart Supercenter and Kohl's experienced the greatest increase in shoppers in January, compared to the same period in 2006, followed by Bed Bath and Beyond, Circuit City, Target/Target Greatland, Wal-Mart, Lowe's, Super Target and Linens 'n Things. Of all the stores rated, only The Home Depot experienced no increase in the amount of shoppers visiting the store this year compared to last.

Many of the retailers benefiting from increased shopping activity were the same retailers that sold a lot of gift cards during the holiday season.

A majority of households (58 percent) received gift cards for the holiday season, with nearly a quarter receiving one for Wal-Mart, and 13 percent receiving one for Target. Other leading retailer gift cards included Gap, Macy’s and The Home Depot.

Among down-market households, gift-card giving was skewed toward Wal-Mart and restaurant gift cards. In contrast, up-market households received more Target gift cards than Wal-Mart gift cards, as well as restaurant, coffee shop, specialty clothing, book and media gift cards.

Restaurant and coffee shop gift cards were the most popular gift cards purchased, with 30 percent of households receiving one.

Meanwhile, February should get a boost from Valentine's Day sales, with greeting cards, candy and flowers leading the pack.

Shoppers of both genders planning to buy gifts for the holiday expect to spend more this year than they did last year, with men feeling particularly generous. Women will more likely buy greeting cards and candy, while men will purchase flowers.

Retail Forward is a global management consulting and market research firm specializing in retail intelligence and strategies. Its ShopperScape survey is conducted online each month with a sample of 4,000 U.S. primary household shoppers across the nation. This month's survey was conducted during the last week of November 2006.

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