March same-store sales jumped 7.2% year-over-year, the highest rate of increase since
Inflationary pressures remained subdued - average prices increased 0.7% year-over-year
As of
March Retail Same-Store Sales Highlights
(Same-store sales, unit sales, transactions, and average price data throughout this release refer to
- Same-store sales increased 7.2% from a year earlier (
March 2023 ). InFebruary 2024 , average sales had increased 3.5% compared toFebruary 2023 . - Same-store sales per calendar day increased 6.6% compared to
February 2024 . Same-store sales per calendar day inFebruary 2024 had increased 7.4% compared toJanuary 2024 . - For the three months ended
March 31, 2024 , same-store sales per calendar day increased 3.3% compared to the three months endedMarch 31, 2023 . - The number of items sold increased 7.8% compared to
March 2023 . InFebruary 2024 , the number of items sold increased 4.4% per calendar day compared toFebruary 2023 . - The average number of transactions per store increased 4.6% compared to
March 2023 . InFebruary 2024 , the average number of transactions per calendar day had increased 2.0% compared toFebruary 2023 . - A dollar-weighted average of prices for the top 500 items purchased increased 0.7% year-over-year, a decrease from the 1.2% year-over-year increase recorded in
February 2024 .
Commentary from
“The NRS Network’s same-store sales were again strong in March, providing further evidence of continued resilience in consumer spending. Dollars, units, and traffic all tallied solid increases versus the year ago, while prices for our most popular items over the same period increased less than one percent. Standouts included increased sales of beverage categories across most alcoholic and non-alcoholic sub-categories with the notable exception of Energy Drinks, which were flat for the second consecutive month, breaking an extended growth trend.”
“Turning to select seasonal trends…while same store sales for the Candy category rebounded in February with sequential and year-over-year gains, the momentum was not sustained in March. Candy unit sales decreased ~7% and dollars declined ~2% compared to
Retail Trade Comparative Data
The table below provides historical comparative data with the
Over the past twelve months, the NRS network’s three-month moving average same-store sales have outpaced the US Commerce Department’s Advance Monthly Retail Trade data excluding food services by 4.5% percentage points, on average.
The NRSInsights data have not been adjusted to reflect inflation, demographic distributions, seasonal buying patterns, item substitution, or other factors that may facilitate comparisons to other periods, to other same-store retail sales data, or to the
NRSInsights Reports
The NRSInsights monthly Same-Store Retail Sales Reports are intended to provide timely topline data reflective of sales at NRS’ network of independent, predominantly urban, retail stores.
Same-store data comparisons of
Same-store data comparisons for the three months ended
NRS POS Network
The NRS network comprises approximately 29,800 active POS terminals operating in approximately 25,900 independent retail stores. Its platform predominantly serves small-format, independent, retail stores including convenience stores, bodegas, liquor stores, grocers, tobacco and sundries sellers. The network includes retailers in all 50 states and in 197 of the 210 designated market areas (DMAs) in
About National Retail Solutions (NRS):
National Retail Solutions operates the largest point-of-sale (POS) terminal-based platform and digital payment processing service for independent retailers nationwide. Retailers utilize NRS offerings to process transactions and effectively manage their businesses. Consumer packaged goods (CPG) suppliers, brokers, analytics firms, and advertisers access the terminal’s digital display network to reach these retailers’ predominantly urban, multi-cultural shopper base, and to harness transaction data-based learnings to identify growth opportunities and measure execution and returns on marketing investment. NRS is a subsidiary of
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the
NRSInsights Contact:
SVP, Data Strategy and Sales at NRS
National Retail Solutions
suzy.silliman@nrsplus.com
IDT Corporation Contact:
william.ulrey@idt.net
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Attachment
- National Retail Solutions
National Retail Solutions
Retail Trade Comparative Data
2024 GlobeNewswire, Inc., source