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Report: Same-store sales growth drops in November

December 01, 2006

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Columbus, Ohio—Same-store sales growth dropped 2.3 percent in November for about 60 retailers reporting monthly results, stated Retail Forward.

The result is down from the 3.2 percent sales-weighted composite reported last month and the 3.7 percent composite reported in November 2005.

Weak results at discount department stores, apparel and accessory stores, and dollar stores were the primary reasons for the drop. Drug stores, department stores and warehouse clubs reported the strongest performance.

Retail Forward's recent ShopperScape survey indicates a sharp decline in shoppers planning to spend at discount stores—led by Wal-Mart—and/or supercenters this holiday season versus last year. The report noted, however, that discounter woes do not reflect a decrease across retail channels, with non-store retailers showing gains.

"These increases may reflect the impact of persistently high fuel prices and efforts by shoppers to shop less at stores to save on gasoline," said Frank Badillo, director of the Retail Forward KnowledgeBase, in a statement.

Outside the shopping shifts among retail channels, the November survey predicted overall holiday shopping will hold up this year. Highlights include: More shoppers (52 percent) plan to spend about the same amount on holiday gifts this year compared to 2005 (45 percent); fewer shoppers (29 percent) plan to spend less this year compared to the 35 percent who planned to spend less in 2005; slightly fewer shoppers (13 percent) said they would spend more this year compared to the 16 percent who said they'd increase spending in 2005; and the average amount shoppers plan to spend this year ($650) is about the same as last year.

For more information, visit Retailforward.com.
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