Tuesday, July 24, 2012

Industry News: National

US chain store comp retail sales for June rose by just 0.2% year-over-year as measured by the ICSC's tally of 23 major retail chains. June sales were “below expectations generally, but largely followed May’s above-plan gain.” Among merchandise categories, Luxury Stores led with a 7.6% gain, followed by Discount Stores with a rise of 3.3% and Apparel with a rise of 3.5%. Wholesale Clubs were up 3.0%, Department Stores gained 0.8%, and Drug Stores dropped a dismal 7.8%. Among individual retailers, Gap was flat, but Limited rose 7.0%; Costco was up 3.0%. Nordstrom was up a healthy 8.1% and Saks gained 6.0%; Target grew by 2.1% and TJX by 7.0%. Macy’s gained 1.2%, but Kohl’s fell by 4.2%; Rite Aid was down 1.0%, and Walgreens fell 10.0%. See retail sales results on Page 4...Target Corp. will collaborate with luxury retailer Neiman Marcus. This December, the two companies will jointly sell a limited edition assortment of exclusive clothing, home goods, and electronics accessories created by 24 high-profile designers, including Marc Jacobs and Oscar de la Renta. Prices range from $7.99 to $499.99, with most items selling for less than $60.

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