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Report: Same-store sales slow in October

Author: Columbus, Ohio 11/6/2006 3:27:12 PM

Same-store sales dropped to 3.3 percent in October for 60 retailers who reported monthly results on Tuesday, according to consulting firm Retail Forward.

Apparel and accessories stores, discount department stores and dollar stores experienced the slowest sales growth, while department stores and drug stores had the strongest.

The results show a slowdown from the 4.3 percent average sales increase reported last month and the 4.4 percent average sales increase reported in October 2005.

The sales results fall roughly in line with Retail Forward's prediction of 5.5 percent total sales growth for the holidays, a reduction from the 7.2 percent growth seen in October-to-December sales last year.

Retail Forward's ShopperScape survey shows that the majority of shoppers plan to spend about the same as they did last year on holiday gifts. Down-market shoppers appeared the most cautious about holiday spending this year, with more than half planning to spend less than last year or nothing at all.

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