Friday, June 17, 2011
Industry News: National
May same-store sales for the ICSC’s index of major retailers rose by 5.4%. Industry sales were largely in line with year-to-date performance of 5%. However, segment performance was mixed. The weakest segment was Apparel, which some retailers claim was effected by weather. Apparel chains posted a 1% gain in May. Other segments ran as follows: Wholesale Clubs (12.3%), Luxury (10.4%), Department Stores (4.2%), Discounters (2.6%), and Drugstores (1.3%). Among individual retailers, Gap dropped 4.0% and Limited gained 6.0%; Costco was up 13.0% and BJs gained 7.4%. Nordstrom and Neiman Marcus gained 7.4% and 12.0% respectively; Target grew by 2.8% and TJX by 2.0%. Macy’s gained 7.4%, and Kohl's rose 0.8%; and Rite Aid rose 1.3%. See our more extensive list of retail sales results on the May Retail Sales Report blog entry.