WASHINGTON (MNI) – The following is the commentary from the ICSC
monthly Chain Store Sales Index released Thursday:
U.S. chain store sales posted a 2.8% year-over-year
comparable-store gain for July 2010 according to the International
Council of Shopping Centers, Inc. (ICSC). Overall the performance was
modest and reflected a fair amount of unevenness across the different
segments.
“The faster sell-through of summer clearance merchandise, which was
helped by the unseasonably hot July, combined with lower prices hurt
reported sales,” said Michael P. Niemira, chief economist and director
of research for ICSC. “Back-to-school demand, which normally kicks in
late in July also was postponed as hot weather curbed the consumer’s
interest and urge to buy,” Niemira added.
For August ICSC expects year-over-year sales to increase by 3%.
ICSC Chain Store Sales Trends is a monthly report on the U.S.
retail industry’s sales performance based on an ICSC preliminary
compilation of publicly-available sales for 31 chain stores during the
month of July. Industry sales aggregates are compiled for
“comparable-store” or “same-store” sales and for total store sales.
Those data are presented as an index with a 1977=100 base.
Comparable-store sales are also compiled for specialized-industry
groupings, which include aggregates for apparel chain stores, department
stores, discount stores, drug stores, footwear stores and wholesale
clubs.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
