the company said that same-store sales rose 28.7% in march, a stunning performance considering that the company had a very tough year-over- year comparison with a 25% same-store sales gain in 3/07. and for the first-quarter overall, app's same-store sales rose 37.5%, which is likely to be the best of any retailer out there. apparel retailers have been reporting pretty awful numbers this morning, so i am quite impressed with the company's ability to sustain its blistering sales momentum in this tough consumer environment.
app also said that it opened six new stores in the quarter, with five of them located outside of the us. this is a positive because app manufacturers its products in the us and increasing foreign sales will help the company benefit from the weak dollar. in addition, in reaction to the consumer slowdown, i believe many apparel retailers will slow their store- expansion plans. i believe this will benefit style-driven app significantly as the company will see reduced competition for prime real estate, potentially lowering store-opening costs.