Same-store sales at NRS retailers during November increased 3.1% compared to November 2022
Compared to October 2023, same-store-sales per calendar day decreased 1.2%
NEWARK, N.J., Dec. 08, 2023 (GLOBE NEWSWIRE) -- NRSInsights, a provider of sales data and analytics drawn from retail transactions processed through the National Retail Solutions (NRS) point-of-sale (POS) platform, today announced comparative same-store sales results for November 2023.
As of November 30, 2023, the NRS retail network comprised approximately 27,600 active terminals scanning purchases at independent retailers including bodegas, convenience stores, liquor stores, grocers, and tobacco and sundries sellers nationwide, predominantly serving urban consumers.
Retail Same-Store Sales Highlights
- Same-store sales in November 2023 increased 3.1% from a year earlier (November 2022). Average sales per calendar day for November 2023 decreased 1.2% compared to the preceding month (October 2023).
- Same-store sales in the preceding month (October 2023) had increased 3.2% compared to the year-ago month (October 2022). Average sales per calendar day in October 2023 had decreased 2.1% compared to the preceding month (September 2023).
- For the three months ended November 30, 2023, same-store sales increased 3.7% compared to the same three months in 2022.
- The number of items sold during November 2023 increased 4.7% compared to November 2022 but decreased 2.0% compared to October 2023 on a per calendar day basis.
- The average number of transactions per store in November 2023 increased 2.1% compared to November 2022. The average number of transactions per calendar day in November 2023 decreased 3.9% compared to October 2023.
- A dollar-weighted average of prices for the top 500 items purchased in November 2023 increased 3.9% year-over-year, an increase from the 1.6% year-over-year increase recorded in October 2023.
Commentary from Suzy Silliman (SVP, Data Strategy and Sales at NRS)
“November same-store sales at retailers utilizing our POS platform increased 3.1% year-over-year but decreased 1.2% on a per-day basis compared to October. Until this month, inflationary pressures had moderated significantly. However, prices on the top 500 items sold increased 3.9% in November 2023 compared to November 2022 on a weighted dollar sales basis. In October, the year-over-year increase was just 1.6%.
“Same-store sales for NRS retailers on Black Friday and Small Business Saturday 2023 increased by 3.9% compared to the same days in 2022. Nevertheless, sales on these two days decreased by approximately 13% from the average level of the other Fridays and Saturdays in November. It is counter-intuitive for sales to decrease on these two dedicated shopping days, but it fits with a consistent pattern we have observed over the years as some of our retailer’s regular customers go out of town for the Thanksgiving holiday or are busy hosting family and friends.
“The rates of NRS retailers’ three-month rolling year-over-year same-store sales growth have decreased steadily during the second half of this year, even as the comparable U.S. Commerce Department data shows steady increases in the rates of year-over-year same-store sales growth. Nevertheless, NRS retailers continue to outperform the broader retail market as reflected in the U.S. Commerce data.”
Retail Trade Comparative Data
The table below provides historical comparative data with the U.S. Commerce Department’s Advance Monthly Retail Trade same-store sales data excluding food service:
Over the past eleven 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 3.7 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 U.S. Commerce Department’s retail data.
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 November 2023 with November 2022 are derived from approximately 153 million transactions processed through the 15,862 stores on the NRS network that scanned transactions in both months. Same-store data comparisons of November 2023 with October 2023 are derived from approximately 210 million transactions processed through 23,075 stores.
Same-store data comparisons for the three months ended November 30, 2023 with the year-ago three months are derived from approximately 456 million scanned transactions processed through the stores that were in the NRS network in both quarters.
NRS POS Network
The NRS network comprises approximately 27,600 active POS terminals operating in approximately 24,000 independent retail stores. Its platform predominantly serves small-format, independent, retail stores including convenience stores, bodegas, liquor stores, grocers, and tobacco and sundries sellers. The network includes retailers in all 50 states and in 197 of the 210 designated market areas (DMAs) in the U.S. Over the past twelve months, NRS’ POS terminals have processed $16.9 billion in sales through approximately 1.20 billion transactions.
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 IDT Corporation (NYSE: IDT).
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 SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.
NRSInsights Contact:
Suzy Silliman
SVP, Data Strategy and Sales at NRS
National Retail Solutions
suzy.silliman@nrsplus.com
IDT Corporation Contact:
Bill Ulrey
william.ulrey@idt.net
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