HFN COMP-SALES AVERAGE SHOWS SLIGHT GAIN IN APRIL.
Subsequently, the HFN Comp-Sales Average showed a 0.4 percent gain for April, compared with March's 1.6 percent decline.
Same-store sales for the month showed modest gains for key retailers. Wal-Mart posted a 5.1 percent increase.
Target's same-store sales rose 3.9 percent. Dollar General and Big Lots reported increases of 5.9 and 7.3 percent, respectively.
Retailers posting negative same-store sales included Dillard's with a 2 percent decrease, as well as May Department Stores and Federated Department Stores, which saw declines of 5.6 percent and 1.4 percent, respectively.
It's important to note that Wal-Mart, Target, Sears and J.C. Penney all missed their sales forecasts for the month.
At Sears, management said sales in its hard-lines segment fell, which was due to stores being closed on Easter. "Hard-line revenues declined, partially due to our Easter store closing and strong seasonal product sales in March," said Alan Lacy, chairman and chief executive officer.
One bright spot at retail was Restoration Hardware, with a reported same-store sales increase of 18 percent.
"Customer response to our new strategy, which launched last April, continues to build," said Gary Friedman, president and CEO.
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|Title Annotation:||April 2003 same-store sales data, US|
|Comment:||HFN COMP-SALES AVERAGE SHOWS SLIGHT GAIN IN APRIL.(April 2003 same-store sales data, US)|
|Author:||Zaczkiewicz, Arthur; Weber, Nathan|
|Publication:||HFN The Weekly Newspaper for the Home Furnishing Network|
|Article Type:||Brief Article|
|Date:||May 12, 2003|
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