March has been a challenging month for the retailers in the US. Overall though, the US retail sector reported a growth of 4 per cent as per data revealed by research firm Retail Metrics.
Apparel retailers reported lower sales in March as per the survey conducted by the conference board.
For instance, value-priced fashion apparel retailer Cato Corp (CATO) reported that its March same-store sales declined 1 per cent. However, the total sales rose 2 per cent from last year to $118.8 million from $117 million in the prior-year period.
Meanwhile, teen apparel retailer Buckle, Inc (BKE) showed a decline in its store net sales for March by 11.8 per cent from the year ago. Similarly, GAP was down by 6 per cent in comparable store sales, while zumiez was down by 7.8 per cent, blaming the drop in sales owing to early Easter.
Sales were negatively impacted owing to the shift of Easter from early April last year to mid-March in the current year. The data released by the conference board indicated a rebound in US consumer confidence in the month of March to 96.2 per cent form 94 per cent in February.
Although, L Brands, owner of Victoria Secret, said its March comparable store sales increased 3 per cent, comparable sales were negatively impacted by the earlier Easter in the current year by about 1 to 2 points.
