Same Store Sales Heat Up in March

Several factors converged last month—An earlier Easter holiday, better weather and improving spending plans by shoppers—to propel retail same-store sales excluding Walmart to a 9.2% gain in March, according to Kantar Retail.

The sales-weighted composite for the 32 retailers reporting–most of them apparel retailers–was better than the 3.9% same-store sales gain last month and the 4.7% decline in March of 2009 for the same measure.Including Walmart, same-store sales were down 1.9% in March of 2009.

“Everything from the weather to the calendar helped drive more shoppers into retail stores in March. There will be a letup in April, but sales should hold up better than might be expected given the ongoing recovery in spending plans by shoppers,” said Frank Badillo, senior economist.

The results were led by double-digit gains at many department stores and apparel and accessory stores.Following with healthy results were food, drug and mass retailers.

A survey of shoppers showed more optimism, too. The percentage of shoppers planning to spend less in the coming month compared with the same period a year ago continued to trend lower (in terms of a three-month moving average), falling to about 40%.

More info: www.kanterretail.com