Wednesday, October 17, 2012
Industry News: National
US chain store comp retail sales for September rose by a modest 0.9% year-over-year as measured by the ICSC's tally of 22 major retail chains. However, this was due largely to the poor performance of the Drugstore category, notably Walgreens, which fell by 11.1%. Excluding drugstores, the ICSC tally showed a gain of 3.9%. in september. Among merchandise categories, Wholesale Clubs led with a gain of 6.0%. Apparel followed with an 5.0% gain (likely buoyed by back-to-school sales) followed by Luxury Stores with a rise of 4.4% and Discount Stores with a rise of 3.3%. Department Stores were up 1.1%. Drug Stores dropped 8.6%. Among individual retailers, Gap gained 6.0%, and Limited rose 5.0%; Costco was up 6.0%. Nordstrom was up 4.4%; Target grew by 2.1% and TJX by 6.0%. Macy’s gained 2.5%, and Kohl’s fell by 2.7%; Rite Aid was down 0.7%.