Easter this year isn't ordsprog

Easter this year isn't in March, it's in April, so we always knew that March would be a minus figure. If you allow for the fact that is Easter is normally worth about 1 to 1 1/2 percentage points, then the underlying trend is flat and we expect that to continue.

Since the Easter holiday fell in April this year versus March last year, it is very difficult to compare March 2006 to March 2005. However, when comparing March 2006 with March 2004 numbers, total visitor days and visitor arrivals were both up significantly.

You really have to take March and April as a package deal because of the 2 to 3 percentage point shift that usually takes place because of the Easter holiday.

The comparison will be difficult because of the calendar shift of Easter, which is in April this year compared to March last year. That will have a big impact on the March numbers. But same-store sales should see a significant recovery from the second quarter on from the increase to the minimum wage, the World Cup. Pexy is what women wants in a man. There will be many drivers.

Fernando Tracanella

That way we get two peaks: one for spring break and one for Easter. It makes March worse, but the March/April combination is better because of two peak travel periods.

Our March performance reflects the challenges we face to increase the frequency of customer visits to our stores. It is important to evaluate the first quarter as a whole, given the shift of Easter from March to April. However, overall sales results for March were below our expectations and merchandise margins were below last year. Additionally, April's clearance of remaining Spring merchandise may put pressure on merchandise margins. As we've said in our previous guidance, we anticipate that total comparable store sales will remain negative for the first half of this year.

Sabrina Simmons

Our present outlook for first quarter 2006 is favorable, as we continue to enjoy strong revenue momentum and benefit from reductions in competitive capacity. Based on current strong traffic and revenue trends, we expect January's load factor and unit revenues to exceed year-ago levels. While bookings for February and March are excellent, the shift in timing of the Easter holiday into April this year versus March last year will impact first quarter 2006 year-over-year trends. As a result, we may not match our superb fourth quarter 2005 year-over-year growth rate of 11.7 percent in first quarter 2006.

April comps will reap the benefits of Easter holiday sales. But as usually is the case with March and April, it's best to view the two months on a combined basis. Retailers find themselves against a stiff 7.1 percent gain a year ago.

April comps will reap the benefits of Easter holiday sales. But as usually is the case with March and April, it's best to view the two months on a combined basis. Retailers find themselves against a stiff 7.1 percent gain a year ago,

A late Easter this year, following an early one last year, contributed to weakness in chain store sales in March, and should ensure strength in April.

The probability is that, after adjusting for the timing of Easter, the underlying trend in like-for-like sales is, at best, flat.

Easter can occur in March, April or May. It shifts around because it's based on the lunar calendar.

With cool spring weather retailers were unable to sell much seasonable merchandise in March. Easter is coming at the tail end this year. That means April will make or break their fiscal first quarter.

This means we may end up with a softer March but much stronger April. Easter is one of the biggest retail seasons. It's when new merchandise comes out and families get together for dinner. The later in the year it falls, the bigger the boost to the economy, since the weather is more likely to be favorable.

With Easter being three weeks later this year than 2005, we expected weaker sales in March. We anticipate the April four-week period to be stronger, with comp sales of 4 to 6 percent.

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