ShopperTrak Survey: Pre-Thanksgiving Retail Sales and Traffic Flat
Chicago ShopperTrak RCT Corp.’s National Retail Sales Estimate (NRSE) and Retail Traffic Index (SRTI) Wednesday reported both retail sales and traffic were flat (0.0%) as compared to the previous week ending Nov. 15 as consumers stayed home preparing for the Black Friday weekend rush.
Although retailers were hoping early holiday sales and promotions would drive consumer traffic last week, it appears for the most part shoppers remained home waiting for deep discounts and door-buster sales on Black Friday and Black Saturday.
“The week before Thanksgiving is annually a rather slow period for retailers, so last week’s flat performance was expected, even with the early discounts and promotions seen throughout the country,” said Bill Martin, co-founder of ShopperTrak. “Looking forward, we anticipate Black Friday weekend, which typically accounts for nearly 10% of all holiday spending, will once again be a significant event for the retail industry—with Black Friday leading the way as the number one shopping day this season.”
Fisher resigns from Godinger
NEW YORK Mark Fisher has resigned as president and chief marketing officer of Godinger. He will become a partner at International Industrial Development Associates.
Fisher was with Godinger for 15 years, his tasks will be assumed internally.
Charming Shoppes posts better-than-expected 3Q loss
BENSALEM, Pa. Charming Shoppes reported a loss form continuing operations of $23.7 million of 21 cents per diluted share on a non-GAAP basis. The company had projected a diluted loss per share in the range of 35 cents to 37 cents.
Net sales from continuing operations for the thirteen weeks ended Nov. 1 decreased 8% to $553.1 million, compared to net sales from continuing operations of $599.7 million for the thirteen weeks ended Nov. 3, 2007.
Net sales for the company’s retail stores segment were $528.5 million during the quarter, a decrease of 10% compared to $588.1 million during the same period last year. Consolidated comparable-store sales for the company’s retail stores segment decreased 9% during the quarter. The decrease in consolidated comparable-store sales compares favorably to the company’s previous projection for sales declines in the low double digits.