Most Mass Retailers Reported Same-Store Gains In February 2001.

Most mass retailers posted gains in comparable store sales for February, as they battled the effects of economic concerns and adverse weather conditions in some areas of the country. While overall chain-store sales rose 2.8 percent, the discount store and wholesale club sectors did better — 3.7 percent and 5.3 percent, respectively.

“The mass retail industry is weathering the economic slowdown admirably, and we are confident that shoppers’ economic concerns are declining and the worst is over as spring approaches,” said IMRA President Robert J. Verdisco. “We also believe that those companies hit hardest can recover soon and enjoy steady sales gains for the balance of the year.”

Fred’s, Inc. reported a 12 percent same-store gain for February over the same period last year, while Family Dollar Stores, Inc. reported a 5 percent gain. Wal-Mart posted an increase of 4 percent in same-store sales, and Kmart Corporation reported a 3.3 percent gain. Target Stores’ same-store sales increased 2.9 percent, while Consolidated reported that comparable store sales grew 1 percent. Sunglass Hut reported a 0.6 percent gain and attributed the slowdown to inclement weather conditions in particular.

Few mass retailers actually saw same-store sales decline in February, as they worked to contain costs, maintain customer traffic and compare this February sales period to the particularly strong sales records of February 2000.

For more information at http://www.imra.org.