Discount chains, which posted a 5% jump, had their best performance since March 2004, when sales increased 6.3%. Target, as it has for the last three months, led the way with an 8.2% climb. Wal-Mart's discount stores followed, rising 4.8%; ShopKo fared the worst, dropping by 0.6%.
Another sector that posted a strong performance was drug stores, registering an 8.3% rise. Walgreens had the best results, soaring 11.6%, while Rite Aid only inched up 1.6%, though it bettered February's 0.6% year-on-year performance.
Wholesale clubs' 4.7% push was below their 2004 fiscal year average increase of 7.2% and February's 7.2% gain. Costco, as it has since October, led the sector, with a 7% climb. BJ's Wholesale, up 3%, and Wal-Marts Sam's Clubs, up 2.1%, followed.
Apparel barely rose about flat results, increasing 0.6%, largely because of a 4% loss by Gap and a 7% Limited drop. But American Eagle (up 29.2%), Abercrombie & Fitch (up 21%) and others posted very strong results. "Year-over-year comparisons this month are not what one might call 'apples-to-apples,' making March appear stronger than it perhaps was," says Katherine Galligan, a retail analyst with the Dallas-based Aperion Group, in her March apparel report.
The one sector in ICSC's report that fell, as a whole, was department stores, dropping by 1%. Federated Department Stores' 3.4% climb was its best since October's 4% results. But May Department Stores, which Federated is buying for $11 billion, suffered a 10.8% loss.
The ICSC survey tracked the March results of 71 chains, representing $61.1 billion in same-store sales. The organization predicts a 2% to 3% increase for April.<p
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