Friday, August 17, 2012
Industry News: National
US chain store comp retail sales for July rose by 3.4% year-over-year as measured by the ICSC's tally of 22 major retail chains. Walgreen’s performance dragged down the total because of its decision to no longer be part of Express Scripts, Inc. pharmacy network, which trimmed comparable-store sales by 2.7 percentage points on a year-over-year basis. Excluding the entire drug store sector, chain-store sales rose by 4.6% in July compared with the prior year. Among merchandise categories, Apparel led with a 9.2% gain, followed by Wholesale Clubs with a rise of 5.0% and Discount Stores with a rise of 4.1%. Department Stores were up 2.5%, Luxury Stores gained 1.3%, and Drug Stores dropped 5.2%. Among individual retailers, Gap gained 10%, and Limited rose 12.0%; Costco was up 5.0%. Nordstrom was up 0.9% and Saks gained 3.5%; Target grew by 3.1% and TJX by 7.0%. Macy’s gained 4.1%, and Kohl’s by 1.7%; Rite Aid was up 0.5%, and Walgreens fell 7.0%.