Thursday, March 15, 2012
Industry News: National
US chain store comp retail sales for February rose by 6.7% year-over-year as measured by the ICSC's tally of 21 major retail chains. A strong Valentine’s Day and warmer weather were key contributing factors. Among merchandise categories, Luxury Stores led with an 9.3% gain, followed by Wholesale Clubs with a rise of 8.0%. Discount Stores rose by 7.5%, Apparel gained 6.6%, Department Stores gained 3.8%, and Drug Stores dropped by 4.6%. Among individual retailers, Gap gained 4.0%, and Limited gained 8.0%; Costco was up 8.0%. Nordstrom was up 10.2% and Saks gained 6.6%; Target grew by 7.0% and TJX by 9.0%. Macy’s gained 4.6%, and Kohls dropped by 0.8%; Walgreens fell 4.6%.