Retail Sales on Track for Lower Growth

Retail

Published: March 4, 2013 12:30 pm

Last Updated: April 28, 2020 4:07 am

After three consecutive years of 4%+ same-store sales growth in the month of February, the outlook for the month in 2013 calls for growth of 2.7%, primarily on a forecast of weaker sales at apparel and teen specialty retail stores. According to research firm Retail Metrics, projected weakness at both J.C. Penney Co. Inc. (NYSE: JCP) and Sears Holding Corp. (NASDAQ: SHLD) have led to projected decline in same-store sales of 0.1% at department stores.

The largest gains are forecast at discount stores such as Big Lots Inc. (NYSE: BIG), Costco Wholesale Corp. (NASDAQ: COST), PriceSmart Inc. (NASDAQ: PSMT) and Family Dollar Stores Inc. (NYSE: FDO).

The research firm attributes the lower comparable store sales to delays in getting refunds to taxpayers, the impact of higher payroll taxes on income, higher gasoline prices in February, and cooler weather which delayed the start of sales of spring clothing.

Retail same-store sales figures are due to be released later this week.

Are You Ahead, or Behind on Retirement? (sponsor)

If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention. Many people have worked their whole lives preparing to retire without ever knowing the answer to the most important question: are you ahead, or behind on your retirement goals?

Don’t make the same mistake. It’s an easy question to answer. A quick conversation with a financial advisor can help you unpack your savings, spending, and goals for your money. With SmartAsset’s free tool, you can connect with vetted financial advisors in minutes.

Why wait? Click here to get started today!