ROANOKE TIMES 
                      Copyright (c) 1997, Roanoke Times

DATE: Friday, April 11, 1997                 TAG: 9704110066
SECTION: BUSINESS                 PAGE: B-7  EDITION: METRO 
DATELINE: NEW YORK
SOURCE: BLOOMBERG NEWS SERVICE

RETAILERS DISAPPOINTED IN RECEIPTS BEFORE EASTER MARCH SALES DIDN'T COME IN LIKE LION

Analysts said many consumers are concentrating more on paying old debts than buying new duds.

Many U.S. retailers reported lower-than-expected sales in March as shoppers passed on paying full prices for spring clothes after two months of post-Christmas clearance sales.

Retailers that rely on sales of clothing, particularly department stores, reported the worst same-store sales, a measure of outlets that have been open at least a year. Same-store sales are considered the best measure of a retailer's results because they don't include the effects of store openings, closings and expansions in the past year, which can boost sales.

Retailers had expected higher sales because an earlier Easter put most of that holiday's shopping in March rather than April. Many consumers, though, are paying down debt and saving for retirement and aren't buying if they can't find a bargain, analysts said.

``Shoppers seem to be willing to respond to strong price incentives, but absent a good sale, they are holding back,'' said Kurt Barnard, president of Barnard's Retail Marketing Report.

As people began spring cleaning and repairs, discount retailers and others that sell merchandise for the home reported strong gains.

``Retailers have seen occasional flashes of spending, but that's been the exception and will continue to be the exception,'' said Frank Badillo, an economist with Price Waterhouse's Management Horizons division.

Badillo also said most apparel-buying cycles last about five quarters. With the relatively strong sales of clothing beginning early last year, that cycle may be coming to an end.

Here are the March results of national retail chains operating stores in Western Virginia. In each case the March 1997 total is followed by the percent change from March 1996 and the change in same-store sales.

American Eagle: $27.7 million, up 28.2 percent from March 1996, same-store sales up 1.6 percent.

Bombay Co.: $24.06 million, down 8 percent, down 4 percent.

Charming Shoppes, parent of Fashion Bug and Fashion Bug Plus stores: $100.8 million, up 8 percent, up 10 percent.

Circuit City: $590.6 million, up 15 percent, down 8 percent.

Family Dollar Stores: $162.4 million, up 22.9 percent, up 10 percent.

The Gap: $524 million, up 11 percent, down 2 percent.

Heilig-Meyers: $157.5 million, up 53.6 percent, same-store change unavailable.

Hills Department Stores: $146.7 million, down 8 percent, up 0.1 percent.

The Limited: $719.1 million, March 1996 comparison unavailable, down 4 percent.

May Department Stores, parent of Hecht's: $1.01 billion, up 5.7 percent, up 1.3 percent.

S&K Famous Brands: $14.3 million, up 26 percent, same-store comparison unavailable.

TJX Cos., parent of T.J. Maxx: $365 million, up 5 percent, not available.

Woolworth: $724 million, down 2.5 percent, down 2 percent.

LENGTH: Medium:   64 lines
ILLUSTRATION: GRAPHIC:  Chart by AP.