Thursday, July 21, 2011
Industry News: National
June same-store sales for the ICSC’s index of major retailers rose by 6.9%. Several factors apparently contributed to the unexpectedly strong sales performance in June, according to the ICSC, such as favorable weather and some increased discounting after a weak May. Slightly higher apparel, food and other commodity prices also may be lifting reported sales. All retailer segments showed gains, with Wholesale Clubs leading at 13.1% and Luxury Stores gaining 9.7. Other segments ran as follows: Department Stores 6.2%, Discounters 4.6%, Apparel 5.5%, and Drugstores 4.0%. Among individual retailers, Gap gained 1.0% and Limited gained 12.8%; Costco was up 14.0% and BJs gained 7.3%. Nordstrom and Neiman Marcus gained 7.9% and 12.5% respectively; Target grew by 4.5% and TJX by 5.0%. Macy’s gained 6.7%, Kohl's rose 7.5%; Walgreens was up 4.8%, and Rite Aid rose 1.8%.