Same Store Retail Sales Slightly Above Expectations

Same-store sales in Redbook's sample were up 1.1 percent year-on-year in the April 9 week, but down 2.8 percent month-to-month. Results were slightly above expectations, the report noted, beating Johnson Redbook's target of a 0.9 percent year-on-year gain and a 3 percent month-to-month drop. Increased inventory due to March's lackluster sales is likely to lead to promotional sales throughout April, providing a boost to sales but probably hurting profit margins.