Washington, D.C. (PRWEB) February 10, 2015
Applied Predictive Technologies (APT) today announced that in-store retail sales for January 2015 increased [+2.8%] compared with January 2014. Restaurant same-store sales were also strong for the month, increasing [+7.4%] year-over-year.
APT has also launched indexes for the following segments, and each segment saw sales growth in January: General Merchandise [+1.0%], Apparel [+2.7%], Quick-Service [+6.5%], and Full-Service [+7.6%].
For overall retail, the APT Index showed retailers performing the best in Denver, CO [+10.4%], Chicago, IL [+9.0%], and Philadelphia, PA [+7.3%]. However, some cities in the northeast seemed to be affected by winter storms during January. The APT Index showed retail sales down in Boston, MA [-2.4%], New York, NY [-0.9%], and Washington, D.C. [-0.1%]. Restaurant sales also performed the worst in Boston [+0.6%] and New York [-0.2%]*.
Patrick O’Reilly, APT President & COO, said, “We’re seeing strong sales performance in January across both retail and restaurants. While the APT Index showed slight negative effects in areas that were hit by large storms this year, sales were strong overall. APT has been consistently providing information about how retail and restaurant sales are doing across the U.S. In addition to this, we are very excited to launch sub-segments for both of these industries, which will enable companies to more accurately compare performance to their peers.”
January Retail Sales – by APT Index numbers:
January retail sales were largely positive, according to the APT Index. Sales growth was driven by more transactions and shopping in lower income areas. However, significant increases in snowfall did lead to sales declines.
The Big Picture
- Overall retail sales: [+2.8%], driven by an increase in the number of transactions [+2.4%]
- General Merchandise sales: [+1.0%]
- Apparel sales: [+2.7%]
Impact of Change in Snowfall on Shopping
- In areas where snowfall decreased year-over-year, the APT Index of Retail Sales increased [+5.0%]
- In areas where snowfall increased 0 to 5 inches year-over-year, the APT Index of Retail Sales increased [+2.5%]
- In areas where snowfall increased 5 to 10 inches year-over-year, the APT Index of Retail Sales decreased [-0.5%]
As the Economy Improves, Lower Income Areas Report Better Sales
- In areas with median income less than $75K, the APT Index of Retail Sales increased [+3.3%]
- In areas with median income $75K or greater, the APT Index of Retail Sales increased [+2.3%]
January Restaurant Sales – by APT Index numbers:
Restaurant sales soared in January 2015, according to the APT Index. The increase was driven by more patrons and larger checks.
The Big Picture
- Overall restaurant sales: [+7.4%], due to increased number of checks [+3.0%] and larger check size [+4.4%]
- Quick-Service sales: [+6.5%]
- Full-Service sales: [+7.6%]
Restaurant Sales Strong, Despite Temperature Changes
- In areas where temperature increased 5 to 10 degrees year-over-year, the APT Index of Restaurant Sales increased [+10.2%]
- In areas where temperature increased 0 to 5 degrees year-over-year, the APT Index of Restaurant Sales increased [+6.8%]
- In areas where temperature decreased year-over-year, the APT Index of Restaurant Sales increased [+5.6%]
The APT Index aggregates data from sales registers at over 100,000 stores across the U.S. to show how year-over-year performance changes for same-store sales in the physical channel. Unlike other sources, the APT Index is based on actual sales data, allowing APT to make statistically significant observations about retail and restaurant sales. As a result, we believe the APT Index provides the most definitive, accurate, and geographically-targeted analysis of sales available.
For more information, visit: http://www.predictivetechnologies.com.
*Cities chosen from the top 25 metro areas as defined by the Core Based Statistical Area (CBSA) from the U.S. Census
APT is a leading cloud-based predictive analytics software company. APT’s Test & Learn® software is revolutionizing the way companies harness their Big Data to accurately measure the profit impact of pricing, marketing, merchandising, operations, and capital initiatives, tailoring investments in these areas to maximize ROI. APT’s client portfolio features some of the world’s best known brands, including Walmart, Starbucks, Coca-Cola, Victoria’s Secret, American Family, Hilton Hotels, SUBWAY, TD Bank, T-Mobile, and others. APT has offices in Washington, D.C., San Francisco, London, Bentonville, Taipei, Tokyo, and Sydney. Visit http://www.predictivetechnologies.com to learn more.