retail

Shoppers Come Alive: March Sales Improve

Macys

Consumers marched into recovery mode last month, cheered by sunny skies and an earlier-than-usual Easter, with many stores posting double-digit sales gains.

While it's true that those results are based off extremely weak results from the prior year and that the timing of Easter will likely suck some of the fun out of April results, they are still better than most observers expected. And store execs are optimistic that shoppers are regaining at least a hint of their swagger.

The International Council of Shopping Centers says its sales index rose 9% for the month, its strongest reading since March 1999, with some of the biggest gains occurring in department and specialty apparel stores. Kantar Retail's Retail Forward, which tracks a slightly different group of stores, says its index rose 9.2%.

Target beat its own estimates with a 10.3% jump in comparable-store sales, a gain it says was fueled by exceptionally strong clothing sales.

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Department stores had a banner month: Same-store sales at Macy's shot up 10.8%, with both Macy's and Bloomingdale's performing above corporate expectations, and JCPenney says its same-store sales rose 5.4%, led by children's clothing. But the real superstar was Kohl's, posting a 22.5% gain, with all regions and departments registering at least double-digit gains. (Footwear, home and children's goods sold best, it says.)

Luxury stores did very well, too. Nordstrom says its same-store sales jumped 16.8%, Saks increased 12.7%, and Neiman Marcus, 9.2%. Specialty stores also had plenty to cheer: Total comparable-store sales for Gap Inc. gained 11%, including a 13% jump at Old Navy, an 11% gain at Gap North America, and a 10% advance at Banana Republic.

Among the teen titans, Aeropostale saw a sales jump of 19%, American Eagle Outfitters 15%, Buckle 7%, Wet Seal 6.3%, and Abercrombie & Fitch 5%. Hot Topic was one of the few decliners, with same-store sales falling 7.5%.

Because the timing of Easter shifted some 4 to 5 percentage points into March results, the ICSC predicts that April sales will be somewhere between flat and down 3%.

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