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March Retail Sales Fall Flat

Easter partly to blame as chains fall short of expectations

By Matt Cantor, Newser Staff

Posted Apr 10, 2008 11:29 AM CDT

(Newser) – Retailers’ same-store sales were flat in March, due in part to an early Easter, the Wall Street Journal reports. The Thomson Financial Same Store Sales Index, projected to sink 0.1%, fell 1.1%, excluding Wal-Mart. Shoppers weren’t ready to buy for spring on the heels of winter, store closings for the holiday reduced sales, and consumer sentiment his a five-year low amid still-rising fuel prices.

Because of the holiday, which warped results, some say consumer confidence will be clearer after April. Among the hardest-hit stores was Gap, which saw an 18% drop in same-store sales, more than twice the fall analysts predicted. Wal-Mart posted a .7% increase excluding fuel, on the low side of its expectations, while Target, Kohl’s, and Stage Stores all reported same-store sales that fell below predictions.

Customers leave a Gap store in downtown San Francisco, Thursday, Feb. 28, 2008. (AP Photo/Paul Sakuma)

A sale tag is shown on a dishwasher at an appliance store in Des Moines, Iowa, Wednesday, Feb. 27, 2008. (AP Photo/Charlie Neibergall)

A shopper looks at her receipt as she pushes a cart through a Wal-Mart superstore in Turnersville, N.J. Tuesday, March 11, 2008. (AP Photo/Mel Evans)

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March Retail Sales Fall Flat

Easter partly to blame as chains fall short of expectations

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March Retail Sales Fall Flat

Easter partly to blame as chains fall short of expectations

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OTHER STORIES ON OUR RADAR

Costco • Easter • gas prices • retail sales • Target • Walmart • same-store sales • Thomson Financial Same Store Sales Index • Gap

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Walmart Suffering Biggest-Ever Slump

Execs admit retail giant lost its way

Retailers Post Worst Month This Decade

But Wal-Mart, other discounters profit from downturn

Wal-Mart Launches $10 Toys, Stores Vow 'This 'R' War'

Rivals match Wal-Mart price cuts as retailers target cash-strapped shoppers

Wal-Mart Leads Feb. Retail Rally

Overall sales jump doubles expectations, calms consumer spending fears

Slow Jan. Sales Worry Retailers

Wal-Mart misses January projections as recession concerns gain momentum

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Newser By Users

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