March Same-Store Sales Up 1.9%

NEW YORK CITY-Retailers posted in March a lower-than-expected 1.9% gain in year-over-year same-store sales, according to a survey by the International Council of Shopping Centers’ research team. The organization had predicted that the increase would come in between 2% and 2.5%.

The report blames a tough comparison to 2005, when the Easter holiday fell in March, as opposed to it taking place this year. But the Easter shift should bode well for this month’s sales, and ICSC predicts a 5% rise when the results come out in early May.

The apparel segment’s same-store sales were hit the hardest, dropping 3.6% from March last year. Gap Inc. reported an 11% plunge, while Cato Corp. fell 4%. The calendar shift did not phase Chico’s FAS though, as the chain posted an 8.4% leap.