Monday, October 27, 2014
September comparable-store sales posted a year-over-year gain of 5.0% based on the ICSC’s final tally of 11 retail chains that report monthly sales. L Brands was up 6.0%, Gap was flat, Rite Aid was up 5.1%, Walgreen’s rose 1.7%, and Costco gained 6.0%. See our sales report below...Kmart is the latest retailer to be hit by a data breach. The company does not yet know the number of credit and debit card numbers that were stolen. However, it does not believe that debit card PINs, Social Security numbers or email addresses were compromised. Kmart is working closely with federal law enforcement authorities, banking partners and IT security firms in the ongoing investigation. It also is deploying advanced software to protect customers' information. Staples Inc. is also investigating a possible security breach involving customer credit-card data. Stores in New York, Pennsylvania and New Jersey appear to have been targeted...Sears Holdings Corporation has entered into lease agreements with fashion retailer Primark for seven standalone stores. Sears will continue to have a significant presence in six of these locations with a streamlined store format of up to 100,000 selling s/f at each store. Primark will lease from Sears a total of approximately 520,000 gross s/f of retail space (400,000 net s/f) in mall-based stores in the Northeastern United States. The space is expected to be delivered to Primark over the next 12-18 months. The first of these stores will open at King of Prussia Mall in King of Prussia, PA, where Primark will join DICK's Sporting Goods as a subtenant of Sears. Another expected location is in Staten Island, NY, at the Staten Island Mall. The other locations and projected store openings will be announced by Sears soon. Sears has also announced layoffs and store closings: see the Decelerating section below.