Same-Store Sales Mixed in March
NEW YORK-U.S. retailers tracked by HFN reported differing results in same-store sales last month.
Costco had the healthiest month with a comparable-club increase of 5 percent for its U.S. locations (6 percent when gasoline sales are included). Ross Stores' same-store sales edged up 1 percent last month. The TJX Cos. reported a 2 percent drop in same-store sales for their various nameplates.
Carol Meyrowitz, TJX CEO, said the company had planned for a weak March on top of a gain of 10 percent in March of last year. The weather, which was "extraordinarily cold" throughout much of TJX store locations, also proved to be a factor, Meyrowitz said.
Michael Balmuth, Ross' vice chairman and CEO, said the chain's same-store performance was better than the company's projection for a 1 to 2 percent decline. Easter Sunday store closures, which occurred in March this year, had an impact on Ross' results as well.