Early Easter, Warm Weather Boost Same-Store Sales in March



NEW YORK-A combination of the earlier Easter holiday and warmer temperatures throughout the nation brought a healthy glow to March sales at the major retailers tracked each month by HFN.

Topping off the list was the 10 percent same-store sales gain logged by The TJX Cos. Carol Meyrowitz, TJX’s CEO, said the company’s retail chains benefited from the weather even in regions which are typically warm in March.

Both Macy’s and Target reported 7.3 percent rises in same-store sales. Both Terry Lundgren, Macy’s chairman, president and CEO, and Gregg Steinhafel, chairman, president and CEO of Target, cited the weather and the early Easter for bringing same-store sales results that were above the expectations of both retailers.

Costco said same-club sales at its U.S. locations increased 5 percent factoring out gasoline sales in March and were up 6 percent when including gas. Kohl’s same-store sales gained 3.6 percent, with Kevin Mansell, chairman, president and CEO, again citing the weather and the holiday.

Assessing the month for retailers as a whole, Michael Niemira, vice president of research and chief economist for the International Council of Shopping Centers, said, “March finished on a strong note as the earlier Easter holiday (April 8, 2012, versus April 24, 2011) gave consumers an incentive to shop for holiday-related items (which) helped to strengthen seasonal demand.”

Posted in News, Retail.

Last updated: April 5, 2012