March Sales Round-Up

Chain store sales rose by 1.9 percent in March, according to the International Council of Shopping Centers' (ICSC) index, reflecting softer-than-expected results. The calendar shift in Easter is blamed for the lessened demand for spring apparel and seasonal merchandise. "Though we expected that March chain store sales performance would be depressed by the calendar shift in Easter to April 16, 2006 (versus March 27, 2005), overall results were marginally softer than we expected," said Michael Niemira, ICSC's chief economist and director of research, in a statement. "Even accounting for the Easter-shift, the 2006 fiscal year trend is about a half of a percentage point slower than 2005. For April, ICSC expects same-store sales to increase by 5 percent on a year-over-year basis, as the Easter-related sales shift acts as a positive driver for April." Below is a summary of the March financial results for some major U.S. retailers. The retailers are listed in descending order, from best to worst, based on percentages that reflect changes from March 2005 comparable store sales.

Target Corp.: Up 2.2. percent
Wal-Mart Stores Inc.: Up 1.4 percent
Federated Department Stores: Flat
Pacific Sunwear: Down 10.9 percent
The Gap: Down 13 percent
Wilsons The Leather Experts: Down 14 percent
Sharper Image: Down 29 percent