Tuesday, September 24, 2019

NATIONAL RETAIL NEWS

The Commerce Department reported that retail sales increased 0.4% last month, down from a strong 0.8% in July. Spending at automobile and parts dealers climbed 1.8% from the previous month, the most since March, after increasing 0.1% in July. Home and garden centers reported a 1.4% gain. Sales at restaurants and bars fell 1.2%, the steepest drop in nearly a year. General merchandise stores reported a 0.3% drop. Online sales continued to soar, rising 1.6%. See sales reports below...Stage Stores Inc. plans to convert its stores to off-price, starting in February of 2020, and expects to be operating approximately 700 Gordmans off-price stores by the third quarter of fiscal 2020. The company plans to close approximately 40 stores; a limited number may continue to operate under the existing department store nameplates until closure. As of this month, Stage Store operates 625 Bealls, Goody’s, Palais Royal, Peebles, and Stage specialty department stores and 158 Gordmans off-price stores in 42 states.

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