October was a lackluster month for same-store sales growth, which dropped 3.3 percent for about 60 retailers reporting results last week, according to a report of shopping trends by the Ohio trade ground Retail Forward. Sales were down from last month’s 4.3 percent sales-weighted composite reported and 4.4 percent composite reported in October 2005. The decreases were mainly centered on apparel and accessory stores, discount department stores and dollar stores. Department stores and drug stores reported growth. The findings shore up a separate Retail Forward study that found that 55 percent of holiday shoppers don’t plan to increase how much they spend this year compared to the last holiday season. Shoppers expect to spend an average of $664 on holiday gifts, the study found. The research group also forecasts a modest 5.5 percent growth in total sales for key holiday retail stores from now until December, a decrease from 7.2 percent last year. Frank Badillo, vice president and senior economist for Retail Forward, predicted the retail market would likely remain strong through the holiday season. “A letup should be expected given the lingering impact of a weaker housing market and elevated gasoline prices,” he said in a statement. “But this doesn’t necessarily suggest a big letdown for the holidays.” Chris Coates.
