Same store sales for March were on the weak side but yoy comparisons are distorted by Easter being in March last year and in mid-April this year. This has obviously hurt the comparison but this is hard to quantify (some apparel retailers say that yoy comps are reduced by 5-6% as a result). Also see US CHAIN STORE SALES GAIN MOMENTUM or for continuous monitoring of the consumer health see CONSUMER WATCH.
Wal-Mart’s sss of +0.6% have not been well received by the market but I find them pretty good considering Easter in April this year.
There was clearly a move towards discount retailers in March as evidenced by BJ’s, Costco’s and Sam’s Club’s sss.
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