Wednesday, September 19, 2012
Industry News: National
US chain store comp retail sales for August rose by 6.0% year-over-year as measured by the ICSC's tally of 20 major retail chains. The overall strength in August compared with a 4.6% gain in the same month of the prior year. The August pace accelerated over the prior two months from its recent low pace of 2.6% in June. This was considerably better than the ICSC and the industry expected, due in part to back-to-school spending. Among merchandise categories, Luxury Stores led with a gain of 21.0%. Apparel followed with an 8.1% gain, followed by Department Stores with a rise of 7.1% and Wholesale Clubs with a rise of 6.0%. Discount Stores were up 5.1%. Drug Stores dropped 5.8%. Among individual retailers, Gap gained 9.0%, and Limited rose 8.0%; Costco was up 6.0%. Nordstrom was up 4.9%; Target grew by 4.2% and TJX by 8.0%. Macy’s gained 5.1%, and Kohl’s by 3.4%; Rite Aid was up 0.4%, and Walgreens fell 0.6%.