NEW YORK—The shift of Easter to late last month helped bring a powerful turnaround to same-store sales among the major retail chains tracked by HFN.
Leading the pack was Target with a 13.1 percent pickup in same-stores sales. Surprisingly, Gregg Steinhafel, the discounter’s chairman, president and CEO, said this result was “somewhat below our expectations,” and said Target’s shoppers seem to be more cautious due to pressure on their household budgets from higher costs of energy, food, apparel and home products.
Among the other discounters, Costco’s U.S. clubs registered a 6 percent increase in comparable store sales (factoring out gasoline sales; with gas, its same-club sales jumped 11 percent). The TJX Cos.’ consolidated same-store sales rose 5 percent. BJ’s Wholesale Club reported same-club sales of 4.1 percent without gas and 8.5 percent with gas.
The department-store channel was led by Dillard’s with an 11 percent increase in comparable-store sales. Macy’s chimed in with a 10.8 percent rise, and Kohl’s registered a 10.2 percent pickup. J.C. Penney’s same-store sales increased 6.4 percent. The home area provided a booster to the Kohl’s number by outperforming the company’s average for the month, said Kevin Mansell, chairman, president and CEO.