Shoppers remain cautious, but sales declines ease

March same-store sales fell for the sixth straight month, as consumers continued to shop cautiously and stick mostly to necessities such as food, but there were some glimmers of stabilization in retailers’ reports. The later Easter hurt some results, but several retailers predicted strong April sales and boosted first-quarter guidance. Discounters continued to outperform other sectors while the luxury market remained weak as shoppers continued looking for deals. While many retailers reported same-store sales declines, some boosted at least the low end of their quarterly guidance including TJX Cos., American Eagle Outfitters Inc., Hot Topic Inc., Aeropostale Inc., J.C. Penney Co. and others. According to a preliminary tally by the International Council of Shopping Centers, same-store sales fell 2.1% in March. But ICSC Chief Economist Michael Niemira said that includes a 3 percentage-point decline related to the later Easter and calendar shift. Wal-Mart Stores Inc., the world’s largest retailer, said same-store sales rose 1.4%, excluding fuel sales, falling short of the 3.2% rise analysts polled by Thomson Reuters predicted.