Wednesday, January 16, 2013
Industry News: National
US chain store comp retail sales for December rose by 4.5% year-over-year as measured by the ICSC's tally of 20 major retail chains, in-line with expectations. The “fiscal cliff”, Hurricane Sandy, and the Sandy Hook school shooting created additional pressure as consumers reacted to an onslaught of bad news. Comp sales for the holiday season, according to the Nationa Retail Federation, rose only 3%, missing the NRF’s projected 4.1% gain. Among merchandise categories, Wholesale Clubs led with a gain of 9.0%. Luxury Stores followed with a 8.6% gain. Department Stores rose 4.5%, Apparel was up 4.1% and Discount Stores were up 1.5%. Among individual retailers, Gap gained 5.0%, and Limited rose 3.0%; Costco was up 9.0%. Nordstrom was up 8.6%; Target was flat, and TJX rose by 6.0%. Macy’s gained 4.1%, and Kohl’s rose by 3.4%; Rite Aid was down 2.2%...Target will offer its online price match policy year round. Target matches prices with online retailers such as Amazon, Walmart.com, Bestbuy.com, Toyrus.com and BabiesRUs.com. The policy expands on Target's previous policy that included price adjustments and ad matches. The policy works on purchases made within 7 days...PayPal announced that 23 national retailers are signed up to accept PayPal in more than 18,000 retail locations, including Famous Footwear, Dollar General, Mapco, RadioShack, Spartan Stores, Abercrombie & Fitch, Advance Auto Parts, Aéropostale, American Eagle Outfitters, Barnes & Noble, Foot Locker, Guitar Center, Home Depot, Jamba Juice, JC Penney, Jos. A. Bank Clothiers, Nine West, Office Depot, Rooms To Go, Tiger Direct, and Toys “R” Us.