Thursday, November 17, 2011
Industry News: National
US comparable chain store retail sales for October rose by 3.7% year-over-year as measured by the ICSC's tally of 26 major retail chains, the slowest pace since March, according to the ICSC. Among merchandise categories, Wholesale Clubs rose by 9.0%, followed by Luxury Stores with a 4.5% gain. Discounters gained 3.2%. Apparel was flat, Department Stores rose 1.8%, and Drug Stores rose 2.7%. Among individual retailers, Gap dropped by 6.0% and Limited gained 6.0%; Costco was up 9.0%. Nordstrom was up 5.4%; Target grew by 3.3% and TJX by 3.0%. Macy’s gained 2.2%, Kohls rose by 3.9%; Rite Aid rose 2.9% and Walgreens by 2.6%. See our more extensive list of retail sales results on Page 4...Macy’s plans to spend $400 million to remodel and update its Herald Square store in Manhattan. The store’s space will be expanded by 100,000 s/f, giving it a total of 1.2 million s/f of selling space. Work will begin in early spring 2012.